<SEC-DOCUMENT>0001752724-25-129509.txt : 20250530
<SEC-HEADER>0001752724-25-129509.hdr.sgml : 20250530
<ACCEPTANCE-DATETIME>20250530091126
ACCESSION NUMBER:		0001752724-25-129509
CONFORMED SUBMISSION TYPE:	NPORT-P
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20250331
FILED AS OF DATE:		20250530
DATE AS OF CHANGE:		20250530
PERIOD START:           	20251231

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GABELLI EQUITY TRUST INC
		CENTRAL INDEX KEY:			0000794685
		ORGANIZATION NAME:           	
		EIN:				222736509
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		NPORT-P
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-04700
		FILM NUMBER:		251006883

	BUSINESS ADDRESS:	
		STREET 1:		ONE CORP CENTER
		CITY:			RYE
		STATE:			NY
		ZIP:			10580
		BUSINESS PHONE:		9149215070

	MAIL ADDRESS:	
		STREET 1:		ONE CORPORATE CENTER
		CITY:			RYE
		STATE:			NY
		ZIP:			10580-1434
</SEC-HEADER>
<DOCUMENT>
<TYPE>NPORT-P
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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      </invstOrSec>
      <invstOrSec>
        <name>Innovex International Inc</name>
        <lei>5299007REICYIJNMW197</lei>
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        <cusip>457651107</cusip>
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          <isin value="US4576511079"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Applied Materials Inc</name>
        <lei>41BNNE1AFPNAZELZ6K07</lei>
        <title>Applied Materials Inc</title>
        <cusip>038222105</cusip>
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          <isin value="US0382221051"/>
          <ticker value="AMAT"/>
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        <balance>3000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>435360.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Post Holdings Inc</name>
        <lei>JM1I5YUAURL6DC8N1468</lei>
        <title>Post Holdings Inc</title>
        <cusip>737446104</cusip>
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          <isin value="US7374461041"/>
          <ticker value="POST"/>
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        <balance>38500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4479860.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mosaic Co/The</name>
        <lei>2YD5STGSJNMUB7H76907</lei>
        <title>Mosaic Co/The</title>
        <cusip>61945C103</cusip>
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          <isin value="US61945C1036"/>
          <ticker value="MOS"/>
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        <balance>6500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>175565.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Materion Corp</name>
        <lei>549300CJ5RI351SUYT02</lei>
        <title>Materion Corp</title>
        <cusip>576690101</cusip>
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          <isin value="US5766901012"/>
          <ticker value="MTRN"/>
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        <balance>2000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>163200.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Axcelis Technologies Inc</name>
        <lei>529900HF9B6NL1QG9F05</lei>
        <title>Axcelis Technologies Inc</title>
        <cusip>054540208</cusip>
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          <isin value="US0545402085"/>
          <ticker value="ACLS"/>
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        <balance>1200.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TrustCo Bank Corp NY</name>
        <lei>N/A</lei>
        <title>TrustCo Bank Corp NY</title>
        <cusip>898349204</cusip>
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          <isin value="US8983492047"/>
          <ticker value="TRST"/>
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        <balance>16100.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>490728.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Zalando SE</name>
        <lei>529900YRFFGH5AXU4S86</lei>
        <title>Zalando SE</title>
        <cusip>000000000</cusip>
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          <isin value="DE000ZAL1111"/>
          <ticker value="ZAL"/>
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        <balance>4200.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ING Groep NV</name>
        <lei>549300NYKK9MWM7GGW15</lei>
        <title>ING Groep NV</title>
        <cusip>000000000</cusip>
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          <isin value="NL0011821202"/>
          <ticker value="INGA"/>
          <other otherDesc="SEDOL" value="BZ57390"/>
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        <balance>17000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ally Financial Inc</name>
        <lei>549300JBN1OSM8YNAI90</lei>
        <title>Ally Financial Inc</title>
        <cusip>02005N100</cusip>
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          <isin value="US02005N1000"/>
          <ticker value="ALLY"/>
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        <balance>5595.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>204049.65000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ferrari Group PLC</name>
        <lei>984500Y7F9EB3DRC4406</lei>
        <title>Ferrari Group PLC</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BN0VZ646"/>
          <ticker value="FERGR"/>
          <other otherDesc="SEDOL" value="BN0VZ64"/>
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        <balance>15500.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Copart Inc</name>
        <lei>549300KVYX3JWMYEHU61</lei>
        <title>Copart Inc</title>
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          <isin value="US2172041061"/>
          <ticker value="CPRT"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Weir Group PLC/The</name>
        <lei>549300KDR56WHY9I3D10</lei>
        <title>Weir Group PLC/The</title>
        <cusip>000000000</cusip>
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          <isin value="GB0009465807"/>
          <ticker value="WEIR"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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      <invstOrSec>
        <name>Walt Disney Co/The</name>
        <lei>549300GZKULIZ0WOW665</lei>
        <title>Walt Disney Co/The</title>
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          <isin value="US2546871060"/>
          <ticker value="DIS"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Penn Entertainment Inc</name>
        <lei>N/A</lei>
        <title>Penn Entertainment Inc</title>
        <cusip>707569109</cusip>
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          <isin value="US7075691094"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Bank of New York Mellon Corp/T</name>
        <lei>WFLLPEPC7FZXENRZV188</lei>
        <title>Bank of New York Mellon Corp/The</title>
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          <ticker value="BK"/>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>Church &amp; Dwight Co Inc</name>
        <lei>POOXSI30AWAQGYJZC921</lei>
        <title>Church &amp; Dwight Co Inc</title>
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          <isin value="US1713401024"/>
          <ticker value="CHD"/>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>FTAI Infrastructure Inc</name>
        <lei>N/A</lei>
        <title>FTAI Infrastructure Inc</title>
        <cusip>35953C106</cusip>
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          <isin value="US35953C1062"/>
          <ticker value="FIP"/>
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        <valUSD>4530.00000000</valUSD>
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      <invstOrSec>
        <name>Nomad Foods Ltd</name>
        <lei>5493000ZZ1837DS2SI43</lei>
        <title>Nomad Foods Ltd</title>
        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
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      <invstOrSec>
        <name>Greif Inc</name>
        <lei>54930070FVGKR0Z1FI24</lei>
        <title>Greif Inc</title>
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          <ticker value="GEF/B"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <name>Blackstone Inc</name>
        <lei>5299004LW4QWGZUB8Y96</lei>
        <title>Blackstone Inc</title>
        <cusip>09260D107</cusip>
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          <isin value="US09260D1072"/>
          <ticker value="BX"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <name>Marathon Petroleum Corp</name>
        <lei>3BNYRYQHD39K4LCKQF12</lei>
        <title>Marathon Petroleum Corp</title>
        <cusip>56585A102</cusip>
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          <ticker value="MPC"/>
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        <curCd>USD</curCd>
        <valUSD>1048968.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>UniCredit SpA</name>
        <lei>549300TRUWO2CD2G5692</lei>
        <title>UniCredit SpA</title>
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          <isin value="IT0005239360"/>
          <ticker value="UCG"/>
          <other otherDesc="SEDOL" value="BYMXPS7"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Harmonic Inc</name>
        <lei>549300LRGRD8XC9BTL66</lei>
        <title>Harmonic Inc</title>
        <cusip>413160102</cusip>
        <identifiers>
          <isin value="US4131601027"/>
          <ticker value="HLIT"/>
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        <balance>20000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>191800.00000000</valUSD>
        <pctVal>0.012086911608</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vestis Corp</name>
        <lei>254900QDW0TA2TMFAP59</lei>
        <title>Vestis Corp</title>
        <cusip>29430C102</cusip>
        <identifiers>
          <isin value="US29430C1027"/>
          <ticker value="VSTS"/>
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        <balance>78000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>772200.00000000</valUSD>
        <pctVal>0.048662737977</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASML Holding NV</name>
        <lei>724500Y6DUVHQD6OXN27</lei>
        <title>ASML Holding NV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="USN070592100"/>
          <ticker value="ASML"/>
          <other otherDesc="SEDOL" value="B908F01"/>
        </identifiers>
        <balance>415.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>274991.45000000</valUSD>
        <pctVal>0.017329496085</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Caesars Entertainment Inc</name>
        <lei>549300FA4CTCW903Y781</lei>
        <title>Caesars Entertainment Inc</title>
        <cusip>12769G100</cusip>
        <identifiers>
          <isin value="US12769G1004"/>
          <ticker value="CZR"/>
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        <balance>71600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1790000.00000000</valUSD>
        <pctVal>0.112802772571</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Standard Motor Products Inc</name>
        <lei>THGK1EO5B5HK0JHQVZ90</lei>
        <title>Standard Motor Products Inc</title>
        <cusip>853666105</cusip>
        <identifiers>
          <isin value="US8536661056"/>
          <ticker value="SMP"/>
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        <balance>105000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2617650.00000000</valUSD>
        <pctVal>0.164959875765</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Wynn Resorts Ltd</name>
        <lei>254900CEKKWIHTEAB172</lei>
        <title>Wynn Resorts Ltd</title>
        <cusip>983134107</cusip>
        <identifiers>
          <isin value="US9831341071"/>
          <ticker value="WYNN"/>
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        <balance>13100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1093850.00000000</valUSD>
        <pctVal>0.068932576970</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Yakult Honsha Co Ltd</name>
        <lei>353800YJPSPGG7KI0S71</lei>
        <title>Yakult Honsha Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3931600005"/>
          <ticker value="2267"/>
          <other otherDesc="SEDOL" value="6985112"/>
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        <balance>646000.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="149.99000000"/>
        <valUSD>12289892.66000000</valUSD>
        <pctVal>0.774488249524</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Dah Sing Banking Group Ltd</name>
        <lei>529900DXBMKJOLLQOM66</lei>
        <title>Dah Sing Banking Group Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="HK2356013600"/>
          <ticker value="2356"/>
          <other otherDesc="SEDOL" value="B01G0P1"/>
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        <balance>217800.00000000</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.78145000"/>
        <valUSD>239871.23000000</valUSD>
        <pctVal>0.015116279220</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Park-Ohio Holdings Corp</name>
        <lei>N/A</lei>
        <title>Park-Ohio Holdings Corp</title>
        <cusip>700666100</cusip>
        <identifiers>
          <isin value="US7006661000"/>
          <ticker value="PKOH"/>
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        <balance>101000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2181600.00000000</valUSD>
        <pctVal>0.137480742257</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NatWest Group PLC</name>
        <lei>2138005O9XJIJN4JPN90</lei>
        <title>NatWest Group PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BM8PJY71"/>
          <ticker value="NWG"/>
          <other otherDesc="SEDOL" value="BM8PJY7"/>
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        <balance>45535.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.77414360"/>
        <valUSD>265748.02000000</valUSD>
        <pctVal>0.016746990760</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Fresenius SE &amp; Co KGaA</name>
        <lei>XDFJ0CYCOO1FXRFTQS51</lei>
        <title>Fresenius SE &amp; Co KGaA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE0005785604"/>
          <ticker value="FRE"/>
          <other otherDesc="SEDOL" value="4352097"/>
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        <balance>3100.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
        <valUSD>131969.42000000</valUSD>
        <pctVal>0.008316489648</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BT Group PLC</name>
        <lei>213800LRO7NS5CYQMN21</lei>
        <title>BT Group PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0030913577"/>
          <ticker value="BT/A"/>
          <other otherDesc="SEDOL" value="3091357"/>
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        <balance>750000.00000000</balance>
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        <valUSD>1606775.53000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Schlumberger NV</name>
        <lei>213800ZUA17OK3QLGM62</lei>
        <title>Schlumberger NV</title>
        <cusip>806857108</cusip>
        <identifiers>
          <isin value="AN8068571086"/>
          <ticker value="SLB"/>
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        <balance>116500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4869700.00000000</valUSD>
        <pctVal>0.306880257871</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sulzer AG</name>
        <lei>529900NZ6MAST5IJF669</lei>
        <title>Sulzer AG</title>
        <cusip>000000000</cusip>
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          <isin value="CH0038388911"/>
          <ticker value="SUN"/>
          <other otherDesc="SEDOL" value="4854719"/>
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        <balance>10500.00000000</balance>
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        <currencyConditional curCd="CHF" exchangeRt="0.88470000"/>
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        <pctVal>0.112039671897</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Vertex Pharmaceuticals Inc</name>
        <lei>54930015RAQRRZ5ZGJ91</lei>
        <title>Vertex Pharmaceuticals Inc</title>
        <cusip>92532F100</cusip>
        <identifiers>
          <isin value="US92532F1003"/>
          <ticker value="VRTX"/>
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        <balance>80.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>38785.60000000</valUSD>
        <pctVal>0.002444202913</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Kerry Group PLC</name>
        <lei>635400TLVVBNXLFHWC59</lei>
        <title>Kerry Group PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE0004906560"/>
          <ticker value="KYGA"/>
          <other otherDesc="SEDOL" value="4519579"/>
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        <balance>2000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
        <valUSD>209339.68000000</valUSD>
        <pctVal>0.013192232577</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Canfor Corp</name>
        <lei>549300DRE7WBHY02BD70</lei>
        <title>Canfor Corp</title>
        <cusip>137576104</cusip>
        <identifiers>
          <isin value="CA1375761048"/>
          <ticker value="CFP"/>
          <other otherDesc="SEDOL" value="B18P4F6"/>
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        <balance>50900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.43905000"/>
        <valUSD>534095.41000000</valUSD>
        <pctVal>0.033657789422</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Entain PLC</name>
        <lei>213800GNI3K45LQR8L28</lei>
        <title>Entain PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IM00B5VQMV65"/>
          <ticker value="ENT"/>
          <other otherDesc="SEDOL" value="B5VQMV6"/>
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        <balance>179500.00000000</balance>
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        <valUSD>1339739.80000000</valUSD>
        <pctVal>0.084428136292</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Southern First Bancshares Inc</name>
        <lei>N/A</lei>
        <title>Southern First Bancshares Inc</title>
        <cusip>842873101</cusip>
        <identifiers>
          <isin value="US8428731017"/>
          <ticker value="SFST"/>
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        <balance>3823.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>125853.16000000</valUSD>
        <pctVal>0.007931053287</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Westaim Corp/The</name>
        <lei>549300TSCVMK1W6GSK84</lei>
        <title>Westaim Corp/The</title>
        <cusip>956925101</cusip>
        <identifiers>
          <isin value="US9569251013"/>
          <ticker value="WED"/>
          <other otherDesc="SEDOL" value="BPCXK01"/>
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        <balance>13750.00000000</balance>
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        <valUSD>301075.36000000</valUSD>
        <pctVal>0.018973259978</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LPL Financial Holdings Inc</name>
        <lei>549300XROQ4Y8G2L7682</lei>
        <title>LPL Financial Holdings Inc</title>
        <cusip>50212V100</cusip>
        <identifiers>
          <isin value="US50212V1008"/>
          <ticker value="LPLA"/>
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        <balance>1000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>327140.00000000</valUSD>
        <pctVal>0.020615809507</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>General Motors Co</name>
        <lei>54930070NSV60J38I987</lei>
        <title>General Motors Co</title>
        <cusip>37045V100</cusip>
        <identifiers>
          <isin value="US37045V1008"/>
          <ticker value="GM"/>
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        <balance>17300.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>813619.00000000</valUSD>
        <pctVal>0.051272893305</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GXO Logistics Inc</name>
        <lei>5493007CNWMXN78JRN66</lei>
        <title>GXO Logistics Inc</title>
        <cusip>36262G101</cusip>
        <identifiers>
          <isin value="US36262G1013"/>
          <ticker value="GXO"/>
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        <balance>5000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>195400.00000000</valUSD>
        <pctVal>0.012313777519</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Mercedes-Benz Group AG</name>
        <lei>529900R27DL06UVNT076</lei>
        <title>Mercedes-Benz Group AG</title>
        <cusip>000000000</cusip>
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          <isin value="DE0007100000"/>
          <ticker value="MBG"/>
          <other otherDesc="SEDOL" value="5529027"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>United States Cellular Corp</name>
        <lei>549300B164AZXESI6E03</lei>
        <title>United States Cellular Corp</title>
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          <isin value="US9116841084"/>
          <ticker value="USM"/>
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        <curCd>USD</curCd>
        <valUSD>8187360.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lowe's Cos Inc</name>
        <lei>WAFCR4OKGSC504WU3E95</lei>
        <title>Lowe's Cos Inc</title>
        <cusip>548661107</cusip>
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          <isin value="US5486611073"/>
          <ticker value="LOW"/>
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        <curCd>USD</curCd>
        <valUSD>2565530.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fox Corp</name>
        <lei>549300DDU6FDRBIELS05</lei>
        <title>Fox Corp</title>
        <cusip>35137L105</cusip>
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          <isin value="US35137L1052"/>
          <ticker value="FOXA"/>
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        <balance>87400.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4946840.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TEGNA Inc</name>
        <lei>549300YC5EDBGX85AO10</lei>
        <title>TEGNA Inc</title>
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          <isin value="US87901J1051"/>
          <ticker value="TGNA"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Daimler Truck Holding AG</name>
        <lei>529900PW78JIYOUBSR24</lei>
        <title>Daimler Truck Holding AG</title>
        <cusip>23384L101</cusip>
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          <isin value="US23384L1017"/>
          <ticker value="DTRUY"/>
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        <balance>7500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>150375.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mueller Industries Inc</name>
        <lei>5493005IZFE4VJLLYG84</lei>
        <title>Mueller Industries Inc</title>
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          <isin value="US6247561029"/>
          <ticker value="MLI"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Airbus SE</name>
        <lei>MINO79WLOO247M1IL051</lei>
        <title>Airbus SE</title>
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          <isin value="NL0000235190"/>
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        <assetCat>EC</assetCat>
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        <invCountry>FR</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DR Horton Inc</name>
        <lei>529900ZIUEYVSB8QDD25</lei>
        <title>DR Horton Inc</title>
        <cusip>23331A109</cusip>
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          <isin value="US23331A1097"/>
          <ticker value="DHI"/>
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        <balance>2500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>317825.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mondelez International Inc</name>
        <lei>549300DV9GIB88LZ5P30</lei>
        <title>Mondelez International Inc</title>
        <cusip>609207105</cusip>
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          <isin value="US6092071058"/>
          <ticker value="MDLZ"/>
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        <balance>165000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Blackstone Mortgage Trust Inc</name>
        <lei>549300OLDJ20R2Y2UW20</lei>
        <title>Blackstone Mortgage Trust Inc</title>
        <cusip>09257W100</cusip>
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          <isin value="US09257W1009"/>
          <ticker value="BXMT"/>
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        <balance>28500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>570000.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Greif Inc</name>
        <lei>54930070FVGKR0Z1FI24</lei>
        <title>Greif Inc</title>
        <cusip>397624107</cusip>
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          <isin value="US3976241071"/>
          <ticker value="GEF"/>
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        <balance>120700.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6637293.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bristol-Myers Squibb Co</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>Bristol-Myers Squibb Co</title>
        <cusip>110122108</cusip>
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          <isin value="US1101221083"/>
          <ticker value="BMY"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>Diageo PLC</name>
        <lei>213800ZVIELEA55JMJ32</lei>
        <title>Diageo PLC</title>
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          <isin value="GB0002374006"/>
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        <invCountry>GB</invCountry>
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        <name>J M Smucker Co/The</name>
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        <title>J M Smucker Co/The</title>
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          <isin value="US8326964058"/>
          <ticker value="SJM"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Apollo Global Management Inc</name>
        <lei>254900LMFT1CY9IYB476</lei>
        <title>Apollo Global Management Inc</title>
        <cusip>03769M106</cusip>
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          <ticker value="APO"/>
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        <name>Spectrum Brands Holdings Inc</name>
        <lei>549300JM0MJETDD30O20</lei>
        <title>Spectrum Brands Holdings Inc</title>
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          <ticker value="SPB"/>
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        <name>Kinder Morgan Inc</name>
        <lei>549300WR7IX8XE0TBO16</lei>
        <title>Kinder Morgan Inc</title>
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      <invstOrSec>
        <name>MGM China Holdings Ltd</name>
        <lei>529900VZFN87OS7WJM66</lei>
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        <name>Keurig Dr Pepper Inc</name>
        <lei>DYTQ8KRTKO7Y2BVU5K74</lei>
        <title>Keurig Dr Pepper Inc</title>
        <cusip>49271V100</cusip>
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          <ticker value="KDP"/>
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        <name>Caterpillar Inc</name>
        <lei>WRJR7GS4GTRECRRTVX92</lei>
        <title>Caterpillar Inc</title>
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          <ticker value="CAT"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Webster Financial Corp</name>
        <lei>KMRURHT0VWKYS6Z5KU67</lei>
        <title>Webster Financial Corp</title>
        <cusip>947890109</cusip>
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          <ticker value="WBS"/>
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        <curCd>USD</curCd>
        <valUSD>149495.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>StoneCo Ltd</name>
        <lei>549300O1A9LEF0XZCR35</lei>
        <title>StoneCo Ltd</title>
        <cusip>000000000</cusip>
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          <ticker value="STNE"/>
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        <balance>5000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>52400.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sealed Air Corp</name>
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      <invstOrSec>
        <name>Aegon Ltd</name>
        <lei>O4QK7KMMK83ITNTHUG69</lei>
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      <invstOrSec>
        <name>HK&amp;S HOTELS</name>
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          <isin value="HK0045000319"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
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      <invstOrSec>
        <name>Nobility Homes Inc</name>
        <lei>N/A</lei>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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      <invstOrSec>
        <name>Tredegar Corp</name>
        <lei>54930003228ERHCH6K87</lei>
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          <isin value="US8946501009"/>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>Brown-Forman Corp</name>
        <lei>549300873K3LXF7ARU34</lei>
        <title>Brown-Forman Corp</title>
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          <isin value="US1156371007"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Vodafone Group PLC</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>Vodafone Group PLC</title>
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          <isin value="GB00BH4HKS39"/>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NXP Semiconductors NV</name>
        <lei>724500M9BY5293JDF951</lei>
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      <invstOrSec>
        <name>Exact Sciences Corp</name>
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        <name>Matthews International Corp</name>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill</title>
        <cusip>912797NW3</cusip>
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          <isin value="US912797NW34"/>
          <other otherDesc="SEDOL" value="BS60BF1"/>
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        <curCd>USD</curCd>
        <valUSD>11671988.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>None</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer LP</title>
        <cusip>29273V100</cusip>
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          <isin value="US29273V1008"/>
          <ticker value="ET"/>
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        <balance>71000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Jardine Matheson Holdings Ltd</name>
        <lei>2138009KENVUNWOLPK41</lei>
        <title>Jardine Matheson Holdings Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="BMG507361001"/>
          <ticker value="JM"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
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      <invstOrSec>
        <name>Nexstar Media Group Inc</name>
        <lei>52990083ZRR5UT591988</lei>
        <title>Nexstar Media Group Inc</title>
        <cusip>65336K103</cusip>
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          <ticker value="NXST"/>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Haleon PLC</name>
        <lei>549300PSB3WWEODCUP19</lei>
        <title>Haleon PLC</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BMX86B70"/>
          <ticker value="HLN"/>
          <other otherDesc="SEDOL" value="BMX86B7"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

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        <name>Gaming and Leisure Properties</name>
        <lei>5493006GWRDBCZYWTM57</lei>
        <title>Gaming and Leisure Properties Inc</title>
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        <invCountry>US</invCountry>
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        <name>BP PLC</name>
        <lei>213800LH1BZH3DI6G760</lei>
        <title>BP PLC</title>
        <cusip>055622104</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>

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        <name>Unity Software Inc</name>
        <lei>549300D1ESJMGNQNG432</lei>
        <title>Unity Software Inc</title>
        <cusip>91332U101</cusip>
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          <ticker value="U"/>
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        <name>AT&amp;T Inc</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T Inc</title>
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          <ticker value="T"/>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>Xerox Holdings Corp</name>
        <lei>5493000Y33XDVO2CXC18</lei>
        <title>Xerox Holdings Corp</title>
        <cusip>98421M106</cusip>
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          <ticker value="XRX"/>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>AZZ Inc</name>
        <lei>549300HD1X2NFLWPYC83</lei>
        <title>AZZ Inc</title>
        <cusip>002474104</cusip>
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          <isin value="US0024741045"/>
          <ticker value="AZZ"/>
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        <valUSD>3469815.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>Rogers Communications Inc</name>
        <lei>5493000M6Z4XFIP6PF03</lei>
        <title>Rogers Communications Inc</title>
        <cusip>775109200</cusip>
        <identifiers>
          <isin value="CA7751092007"/>
          <ticker value="RCI"/>
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        <balance>349000.00000000</balance>
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        <valUSD>9328770.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AES Corp/The</name>
        <lei>2NUNNB7D43COUIRE5295</lei>
        <title>AES Corp/The</title>
        <cusip>00130H105</cusip>
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          <isin value="US00130H1059"/>
          <ticker value="AES"/>
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        <balance>101000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1254420.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Crowdstrike Holdings Inc</name>
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      <invstOrSec>
        <name>IFF</name>
        <lei>BZLRL03D3GPGMOGFO832</lei>
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      <invstOrSec>
        <name>TKO Group Holdings Inc</name>
        <lei>N/A</lei>
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        <name>Incyte Corp</name>
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      <invstOrSec>
        <name>Plug Power Inc</name>
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        <title>Plug Power Inc</title>
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      <invstOrSec>
        <name>Eaton Corp PLC</name>
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        <title>Eaton Corp PLC</title>
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      <invstOrSec>
        <name>Netflix Inc</name>
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        <title>Netflix Inc</title>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Commerzbank AG</name>
        <lei>851WYGNLUQLFZBSYGB56</lei>
        <title>Commerzbank AG</title>
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          <isin value="DE000CBK1001"/>
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        <invCountry>DE</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Timken Co/The</name>
        <lei>B0I35MLPFXZSE70ASS73</lei>
        <title>Timken Co/The</title>
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          <isin value="US8873891043"/>
          <ticker value="TKR"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Farmers &amp; Merchants Bank of Lo</name>
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        <title>Farmers &amp; Merchants Bank of Long Beach/Long Beach CA</title>
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          <isin value="US3082431046"/>
          <ticker value="FMBL"/>
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        <name>Niagen Bioscience Inc</name>
        <lei>529900OPI7B8JPXCVS70</lei>
        <title>Niagen Bioscience Inc</title>
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        <name>Donaldson Co Inc</name>
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        <name>Pernod Ricard SA</name>
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        <name>QuidelOrtho Corp</name>
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        <name>BorgWarner Inc</name>
        <lei>549300DSFX2IE88NSX47</lei>
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        <name>Intevac Inc</name>
        <lei>N/A</lei>
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        <name>Glaukos Corp</name>
        <lei>5299004JA1LHE21M6T14</lei>
        <title>Glaukos Corp</title>
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        <name>Ryman Hospitality Properties I</name>
        <lei>529900GCCWW9SRMPJR11</lei>
        <title>Ryman Hospitality Properties Inc</title>
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        <name>Millicom International Cellula</name>
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        <title>Millicom International Cellular SA</title>
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        <name>Mirion Technologies Inc</name>
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        <name>Gray Media Inc</name>
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        <title>Gray Media Inc</title>
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        <name>Textron Inc</name>
        <lei>3PPKBHUG1HD6BO7RNR87</lei>
        <title>Textron Inc</title>
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        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>PNC Financial Services Group I</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
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        <cusip>693475105</cusip>
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          <isin value="US6934751057"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Option Care Health Inc</name>
        <lei>549300DI3Q5ACSYJRI17</lei>
        <title>Option Care Health Inc</title>
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          <isin value="US68404L2016"/>
          <ticker value="OPCH"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Altaba Inc Escrow</name>
        <lei>N/A</lei>
        <title>Altaba Inc Escrow</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="021ESC017"/>
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        <balance>245000.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UGI Corp</name>
        <lei>DX6GCWD4Q1JO9CRE5I40</lei>
        <title>UGI Corp</title>
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          <isin value="US9026811052"/>
          <ticker value="UGI"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Visa Inc</name>
        <lei>549300JZ4OKEHW3DPJ59</lei>
        <title>Visa Inc</title>
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          <isin value="US92826C8394"/>
          <ticker value="V"/>
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        <curCd>USD</curCd>
        <valUSD>4591026.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Bio-Rad Laboratories Inc</name>
        <lei>549300ZC1GPV35XYDK53</lei>
        <title>Bio-Rad Laboratories Inc</title>
        <cusip>090572207</cusip>
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          <isin value="US0905722072"/>
          <ticker value="BIO"/>
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        <balance>2500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>608900.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ducommun Inc</name>
        <lei>549300Z71HMWF90S2214</lei>
        <title>Ducommun Inc</title>
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          <isin value="US2641471097"/>
          <ticker value="DCO"/>
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        <balance>12935.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>750618.05000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Pitney Bowes Inc</name>
        <lei>549300N2O26NW4ST6W55</lei>
        <title>Pitney Bowes Inc</title>
        <cusip>724479100</cusip>
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          <isin value="US7244791007"/>
          <ticker value="PBI"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>90500.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>PepsiCo Inc</name>
        <lei>FJSUNZKFNQ5YPJ5OT455</lei>
        <title>PepsiCo Inc</title>
        <cusip>713448108</cusip>
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          <isin value="US7134481081"/>
          <ticker value="PEP"/>
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        <balance>92000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>13794480.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Wendy's Co/The</name>
        <lei>529900M0JIUCMWVKHG76</lei>
        <title>Wendy's Co/The</title>
        <cusip>95058W100</cusip>
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          <isin value="US95058W1009"/>
          <ticker value="WEN"/>
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        <balance>94000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1375220.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Enterprise Products Partners L</name>
        <lei>K4CDIF4M54DJZ6TB4Q48</lei>
        <title>Enterprise Products Partners LP</title>
        <cusip>293792107</cusip>
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          <isin value="US2937921078"/>
          <ticker value="EPD"/>
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        <balance>61000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2082540.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Farmer Bros Co</name>
        <lei>5493006PMLETBTVJ3262</lei>
        <title>Farmer Bros Co</title>
        <cusip>307675108</cusip>
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          <isin value="US3076751086"/>
          <ticker value="FARM"/>
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        <balance>86000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>190920.00000000</valUSD>
        <pctVal>0.012031455496</pctVal>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Cavco Industries Inc</name>
        <lei>N/A</lei>
        <title>Cavco Industries Inc</title>
        <cusip>149568107</cusip>
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          <isin value="US1495681074"/>
          <ticker value="CVCO"/>
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        <balance>540.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>280600.20000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Root Inc/OH</name>
        <lei>N/A</lei>
        <title>Root Inc/OH</title>
        <cusip>77664L207</cusip>
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          <isin value="US77664L2079"/>
          <ticker value="ROOT"/>
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        <balance>3500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>467040.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Roper Technologies Inc</name>
        <lei>54930003T4SXCIWVXY35</lei>
        <title>Roper Technologies Inc</title>
        <cusip>776696106</cusip>
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          <isin value="US7766961061"/>
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        <balance>500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>294790.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>APA Corp</name>
        <lei>549300VCIWLRHYVSHC79</lei>
        <title>APA Corp</title>
        <cusip>03743Q108</cusip>
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          <isin value="US03743Q1085"/>
          <ticker value="APA"/>
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        <balance>57500.00000000</balance>
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        <valUSD>1208650.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>GCI LIBERTY INC</name>
        <lei>N/A</lei>
        <title>GCI LIBERTY INC ESCROW SHARE</title>
        <cusip>000000000</cusip>
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          <ticker value="GLIBA"/>
          <other otherDesc="INTERNAL" value="361ESC049"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <name>Waystar Holding Corp</name>
        <lei>N/A</lei>
        <title>Waystar Holding Corp</title>
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          <isin value="US9467841055"/>
          <ticker value="WAY"/>
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      <invstOrSec>
        <name>Deere &amp; Co</name>
        <lei>PWFTNG3EI0Y73OXWDH08</lei>
        <title>Deere &amp; Co</title>
        <cusip>244199105</cusip>
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          <isin value="US2441991054"/>
          <ticker value="DE"/>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>Jefferies Financial Group Inc</name>
        <lei>549300HOF34RGOJ5YL07</lei>
        <title>Jefferies Financial Group Inc</title>
        <cusip>47233W109</cusip>
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          <isin value="US47233W1099"/>
          <ticker value="JEF"/>
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        <balance>78400.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Moelis &amp; Co</name>
        <lei>549300891QNU7VTQUR83</lei>
        <title>Moelis &amp; Co</title>
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          <isin value="US60786M1053"/>
          <ticker value="MC"/>
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        <balance>2100.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>122556.00000000</valUSD>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>WESCO International Inc</name>
        <lei>529900TXOGREY3WNJ434</lei>
        <title>WESCO International Inc</title>
        <cusip>95082P105</cusip>
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          <isin value="US95082P1057"/>
          <ticker value="WCC"/>
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        <balance>6650.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1032745.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State Street Corp</name>
        <lei>549300ZFEEJ2IP5VME73</lei>
        <title>State Street Corp</title>
        <cusip>857477103</cusip>
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          <isin value="US8574771031"/>
          <ticker value="STT"/>
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        <balance>97000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8684410.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Vodafone Group PLC</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>Vodafone Group PLC</title>
        <cusip>92857W308</cusip>
        <identifiers>
          <isin value="US92857W3088"/>
          <ticker value="VOD"/>
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        <balance>98000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>918260.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Sensient Technologies Corp</name>
        <lei>CMMZHMFZQG86EI7WZU92</lei>
        <title>Sensient Technologies Corp</title>
        <cusip>81725T100</cusip>
        <identifiers>
          <isin value="US81725T1007"/>
          <ticker value="SXT"/>
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        <balance>98000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7294140.00000000</valUSD>
        <pctVal>0.459664366213</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Prosus NV</name>
        <lei>635400Z5LQ5F9OLVT688</lei>
        <title>Prosus NV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL0013654783"/>
          <ticker value="PRX"/>
          <other otherDesc="SEDOL" value="BJDS7L3"/>
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        <balance>13077.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
        <valUSD>602017.32000000</valUSD>
        <pctVal>0.037938113313</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Inspired Entertainment Inc</name>
        <lei>549300ZUGYK6NBIU6D69</lei>
        <title>Inspired Entertainment Inc</title>
        <cusip>45782N108</cusip>
        <identifiers>
          <isin value="US45782N1081"/>
          <ticker value="INSE"/>
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        <balance>36000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>307440.00000000</valUSD>
        <pctVal>0.019374348826</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Koninklijke Philips NV</name>
        <lei>H1FJE8H61JGM1JSGM897</lei>
        <title>Koninklijke Philips NV</title>
        <cusip>500472303</cusip>
        <identifiers>
          <isin value="US5004723038"/>
          <ticker value="PHG"/>
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        <balance>35161.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>893089.40000000</valUSD>
        <pctVal>0.056280983504</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Bausch + Lomb Corp</name>
        <lei>549300NY6OZM39SO6475</lei>
        <title>Bausch + Lomb Corp</title>
        <cusip>071705107</cusip>
        <identifiers>
          <isin value="CA0717051076"/>
          <ticker value="BLCO"/>
        </identifiers>
        <balance>12000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>174000.00000000</valUSD>
        <pctVal>0.010965185713</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Wells Fargo &amp; Co</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co</title>
        <cusip>949746101</cusip>
        <identifiers>
          <isin value="US9497461015"/>
          <ticker value="WFC"/>
        </identifiers>
        <balance>157800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11328462.00000000</valUSD>
        <pctVal>0.713900515400</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Marriott International Inc/MD</name>
        <lei>225YDZ14ZO8E1TXUSU86</lei>
        <title>Marriott International Inc/MD</title>
        <cusip>571903202</cusip>
        <identifiers>
          <isin value="US5719032022"/>
          <ticker value="MAR"/>
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        <balance>5500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1310100.00000000</valUSD>
        <pctVal>0.082560286226</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Constellation Brands Inc</name>
        <lei>5493005GKEG8QCVY7037</lei>
        <title>Constellation Brands Inc</title>
        <cusip>21036P108</cusip>
        <identifiers>
          <isin value="US21036P1084"/>
          <ticker value="STZ"/>
        </identifiers>
        <balance>18200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3340064.00000000</valUSD>
        <pctVal>0.210485184226</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Valeritas Holdings Inc</name>
        <lei>549300VHQBHRX48SZ174</lei>
        <title>Valeritas Holdings Inc</title>
        <cusip>91914N301</cusip>
        <identifiers>
          <isin value="US91914N3017"/>
          <ticker value="VLRXQ"/>
        </identifiers>
        <balance>11996.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>0.01000000</valUSD>
        <pctVal>0.000000000630</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Amgen Inc</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
        <title>Amgen Inc</title>
        <cusip>031162100</cusip>
        <identifiers>
          <isin value="US0311621009"/>
          <ticker value="AMGN"/>
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        <balance>24500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7632975.00000000</valUSD>
        <pctVal>0.481017174841</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Temenos AG</name>
        <lei>5067007NW6550481FH64</lei>
        <title>Temenos AG</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CH0012453913"/>
          <ticker value="TEMN"/>
          <other otherDesc="SEDOL" value="7147892"/>
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        <balance>2600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.88470000"/>
        <valUSD>200135.64000000</valUSD>
        <pctVal>0.012612209543</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
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      <invstOrSec>
        <name>Zoetis Inc</name>
        <lei>549300HD9Q1LOC9KLJ48</lei>
        <title>Zoetis Inc</title>
        <cusip>98978V103</cusip>
        <identifiers>
          <isin value="US98978V1035"/>
          <ticker value="ZTS"/>
        </identifiers>
        <balance>5700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>938505.00000000</valUSD>
        <pctVal>0.059142997805</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Japan Post Bank Co Ltd</name>
        <lei>5493006JVO6N2HC2XZ76</lei>
        <title>Japan Post Bank Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3946750001"/>
          <ticker value="7182"/>
          <other otherDesc="SEDOL" value="BYT8165"/>
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        <balance>12800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="149.99000000"/>
        <valUSD>128520.57000000</valUSD>
        <pctVal>0.008099148954</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Motorola Solutions Inc</name>
        <lei>6S552MUG6KGJVEBSEC55</lei>
        <title>Motorola Solutions Inc</title>
        <cusip>620076307</cusip>
        <identifiers>
          <isin value="US6200763075"/>
          <ticker value="MSI"/>
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        <balance>1750.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>766167.50000000</valUSD>
        <pctVal>0.048282580030</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Toll Brothers Inc</name>
        <lei>529900JB6IS9MSZGVR44</lei>
        <title>Toll Brothers Inc</title>
        <cusip>889478103</cusip>
        <identifiers>
          <isin value="US8894781033"/>
          <ticker value="TOL"/>
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        <balance>2500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>263975.00000000</valUSD>
        <pctVal>0.016635258038</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>New Germany Fund Inc/The</name>
        <lei>549300TPS2RTTJ8O3C08</lei>
        <title>New Germany Fund Inc/The</title>
        <cusip>644465106</cusip>
        <identifiers>
          <isin value="US6444651060"/>
          <ticker value="GF"/>
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        <balance>156000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1530360.00000000</valUSD>
        <pctVal>0.096440698900</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Canal+ SA</name>
        <lei>9695000537F9F73BXN18</lei>
        <title>Canal+ SA</title>
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          <isin value="FR001400T0D6"/>
          <ticker value="CAN"/>
          <other otherDesc="SEDOL" value="BRS9F13"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
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      <invstOrSec>
        <name>Liberty Broadband Corp</name>
        <lei>549300MIX43II8JLN536</lei>
        <title>Liberty Broadband Corp</title>
        <cusip>530307305</cusip>
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          <isin value="US5303073051"/>
          <ticker value="LBRDK"/>
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        <balance>59000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5017950.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Meta Platforms Inc</name>
        <lei>BQ4BKCS1HXDV9HN80Z93</lei>
        <title>Meta Platforms Inc</title>
        <cusip>30303M102</cusip>
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          <isin value="US30303M1027"/>
          <ticker value="META"/>
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        <balance>13455.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7754923.80000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Becton Dickinson &amp; Co</name>
        <lei>ICE2EP6D98PQUILVRZ91</lei>
        <title>Becton Dickinson &amp; Co</title>
        <cusip>075887109</cusip>
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          <isin value="US0758871091"/>
          <ticker value="BDX"/>
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        <balance>1500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>343590.00000000</valUSD>
        <pctVal>0.021652460685</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Biogen Inc</name>
        <lei>W8J5WZB5IY3K0NDQT671</lei>
        <title>Biogen Inc</title>
        <cusip>09062X103</cusip>
        <identifiers>
          <isin value="US09062X1037"/>
          <ticker value="BIIB"/>
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        <balance>7000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>957880.00000000</valUSD>
        <pctVal>0.060363977536</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Cogeco Inc</name>
        <lei>5493000KSZQCX0QM2V25</lei>
        <title>Cogeco Inc</title>
        <cusip>19238T100</cusip>
        <identifiers>
          <isin value="CA19238T1003"/>
          <ticker value="CGO"/>
          <other otherDesc="SEDOL" value="2186890"/>
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        <balance>2000.00000000</balance>
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        <currencyConditional curCd="CAD" exchangeRt="1.43905000"/>
        <valUSD>88224.87000000</valUSD>
        <pctVal>0.005559782092</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Franklin Electric Co Inc</name>
        <lei>RR6AURIKMXUE4Q24G284</lei>
        <title>Franklin Electric Co Inc</title>
        <cusip>353514102</cusip>
        <identifiers>
          <isin value="US3535141028"/>
          <ticker value="FELE"/>
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        <balance>36000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3379680.00000000</valUSD>
        <pctVal>0.212981717543</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Ashtead Group PLC</name>
        <lei>2138007UTBN8X9K1A235</lei>
        <title>Ashtead Group PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0000536739"/>
          <ticker value="AHT"/>
          <other otherDesc="SEDOL" value="0053673"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Akamai Technologies Inc</name>
        <lei>OC1LZNN2LF5WTJ5RIL89</lei>
        <title>Akamai Technologies Inc</title>
        <cusip>00971T101</cusip>
        <identifiers>
          <isin value="US00971T1016"/>
          <ticker value="AKAM"/>
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        <balance>1000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>80500.00000000</valUSD>
        <pctVal>0.005072973850</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>American Tower Corp</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>American Tower Corp</title>
        <cusip>03027X100</cusip>
        <identifiers>
          <isin value="US03027X1000"/>
          <ticker value="AMT"/>
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        <balance>16750.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3644800.00000000</valUSD>
        <pctVal>0.229689131545</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P Global Inc</name>
        <lei>Y6X4K52KMJMZE7I7MY94</lei>
        <title>S&amp;P Global Inc</title>
        <cusip>78409V104</cusip>
        <identifiers>
          <isin value="US78409V1044"/>
          <ticker value="SPGI"/>
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        <balance>46500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23626650.00000000</valUSD>
        <pctVal>1.488911523222</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>General Electric Co</name>
        <lei>3C7474T6CDKPR9K6YT90</lei>
        <title>General Electric Co</title>
        <cusip>369604301</cusip>
        <identifiers>
          <isin value="US3696043013"/>
          <ticker value="GE"/>
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        <balance>39625.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7930943.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Graham Holdings Co</name>
        <lei>529900BOSCEEEMAFQJ29</lei>
        <title>Graham Holdings Co</title>
        <cusip>384637104</cusip>
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          <isin value="US3846371041"/>
          <ticker value="GHC"/>
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        <balance>1400.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1345204.00000000</valUSD>
        <pctVal>0.084772480935</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Texas Capital Bancshares Inc</name>
        <lei>549300466Q2SXRX0YM48</lei>
        <title>Texas Capital Bancshares Inc</title>
        <cusip>88224Q107</cusip>
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          <isin value="US88224Q1076"/>
          <ticker value="TCBI"/>
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        <balance>2400.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>179280.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Limoneira Co</name>
        <lei>549300UCPZVJGYHI7550</lei>
        <title>Limoneira Co</title>
        <cusip>532746104</cusip>
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          <isin value="US5327461043"/>
          <ticker value="LMNR"/>
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        <balance>49000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>868280.00000000</valUSD>
        <pctVal>0.054717537077</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>First American Financial Corp</name>
        <lei>549300B6VEZK3N0A1P55</lei>
        <title>First American Financial Corp</title>
        <cusip>31847R102</cusip>
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          <isin value="US31847R1023"/>
          <ticker value="FAF"/>
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        <balance>6526.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>428301.38000000</valUSD>
        <pctVal>0.026990828581</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Polar Capital Holdings PLC</name>
        <lei>549300OXX7YE1947B825</lei>
        <title>Polar Capital Holdings PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B1GCLT25"/>
          <ticker value="POLR"/>
          <other otherDesc="SEDOL" value="B1GCLT2"/>
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        <balance>40000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.77414360"/>
        <valUSD>220630.90000000</valUSD>
        <pctVal>0.013903786164</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Simply Good Foods Co/The</name>
        <lei>N/A</lei>
        <title>Simply Good Foods Co/The</title>
        <cusip>82900L102</cusip>
        <identifiers>
          <isin value="US82900L1026"/>
          <ticker value="SMPL"/>
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        <balance>17500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>603575.00000000</valUSD>
        <pctVal>0.038036275672</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Madison Square Garden Entertai</name>
        <lei>N/A</lei>
        <title>Madison Square Garden Entertainment Corp</title>
        <cusip>558256103</cusip>
        <identifiers>
          <isin value="US5582561032"/>
          <ticker value="MSGE"/>
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        <balance>114174.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3738056.76000000</valUSD>
        <pctVal>0.235566014835</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Davide Campari-Milano NV</name>
        <lei>213800ED5AN2J56N6Z02</lei>
        <title>Davide Campari-Milano NV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL0015435975"/>
          <ticker value="CPR"/>
          <other otherDesc="SEDOL" value="BMQ5W17"/>
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        <balance>800000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
        <valUSD>4683326.56000000</valUSD>
        <pctVal>0.295135318896</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Paysafe Ltd</name>
        <lei>2138003K6PVDCI5TBN11</lei>
        <title>Paysafe Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG6964L2062"/>
          <ticker value="PSFE"/>
          <other otherDesc="SEDOL" value="BPCPXY2"/>
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        <balance>120000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1882800.00000000</valUSD>
        <pctVal>0.118650871618</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Interpublic Group of Cos Inc/T</name>
        <lei>5493008IUOJ5VWTRC333</lei>
        <title>Interpublic Group of Cos Inc/The</title>
        <cusip>460690100</cusip>
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          <isin value="US4606901001"/>
          <ticker value="IPG"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2716000.00000000</valUSD>
        <pctVal>0.171157726426</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Thales SA</name>
        <lei>529900FNDVTQJOVVPZ19</lei>
        <title>Thales SA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0000121329"/>
          <ticker value="HO"/>
          <other otherDesc="SEDOL" value="4162791"/>
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        <balance>1100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
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        <pctVal>0.018409161040</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Essential Utilities Inc</name>
        <lei>549300ILTEOF3E3QY357</lei>
        <title>Essential Utilities Inc</title>
        <cusip>29670G102</cusip>
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          <isin value="US29670G1022"/>
          <ticker value="WTRG"/>
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        <balance>23000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>909190.00000000</valUSD>
        <pctVal>0.057295616086</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VeriSign Inc</name>
        <lei>LMPL4N8ZOJRMF0KOF759</lei>
        <title>VeriSign Inc</title>
        <cusip>92343E102</cusip>
        <identifiers>
          <isin value="US92343E1029"/>
          <ticker value="VRSN"/>
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        <balance>1000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>253870.00000000</valUSD>
        <pctVal>0.015998458029</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MILLROSE PROPERTIES INC</name>
        <lei>N/A</lei>
        <title>MILLROSE PROPERTIES INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="601137201"/>
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        <balance>1500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>39765.00000000</valUSD>
        <pctVal>0.002505923045</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Dell Technologies Inc</name>
        <lei>549300TJB5YBRUPOG437</lei>
        <title>Dell Technologies Inc</title>
        <cusip>24703L202</cusip>
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          <isin value="US24703L2025"/>
          <ticker value="DELL"/>
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        <balance>11000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1002650.00000000</valUSD>
        <pctVal>0.063185307217</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Fiserv Inc</name>
        <lei>GI7UBEJLXYLGR2C7GV83</lei>
        <title>Fiserv Inc</title>
        <cusip>337738108</cusip>
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          <isin value="US3377381088"/>
          <ticker value="FI"/>
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        <balance>3000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>662490.00000000</valUSD>
        <pctVal>0.041748999329</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Grupo Bimbo SAB de CV</name>
        <lei>5493000RIXURZEBFEV60</lei>
        <title>Grupo Bimbo SAB de CV</title>
        <cusip>000000000</cusip>
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          <isin value="MXP495211262"/>
          <ticker value="BIMBOA"/>
          <other otherDesc="SEDOL" value="2392471"/>
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        <balance>1670000.00000000</balance>
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        <currencyConditional curCd="MXN" exchangeRt="20.46450000"/>
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        <pctVal>0.285362434541</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>National Presto Industries Inc</name>
        <lei>N/A</lei>
        <title>National Presto Industries Inc</title>
        <cusip>637215104</cusip>
        <identifiers>
          <isin value="US6372151042"/>
          <ticker value="NPK"/>
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        <balance>13000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1142830.00000000</valUSD>
        <pctVal>0.072019213730</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Telecom Italia SpA/Milano</name>
        <lei>549300W384M3RI3VXU42</lei>
        <title>Telecom Italia SpA/Milano</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IT0003497168"/>
          <ticker value="TIT"/>
          <other otherDesc="SEDOL" value="7634394"/>
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        <balance>400000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
        <valUSD>134427.22000000</valUSD>
        <pctVal>0.008471376047</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Metallus Inc</name>
        <lei>549300QZTZWHDE9HJL14</lei>
        <title>Metallus Inc</title>
        <cusip>887399103</cusip>
        <identifiers>
          <isin value="US8873991033"/>
          <ticker value="MTUS"/>
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        <balance>60000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>801600.00000000</valUSD>
        <pctVal>0.050515476253</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Rheinmetall AG</name>
        <lei>5299001OU9CSE29O6S05</lei>
        <title>Rheinmetall AG</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE0007030009"/>
          <ticker value="RHM"/>
          <other otherDesc="SEDOL" value="5334588"/>
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        <balance>500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
        <valUSD>713117.35000000</valUSD>
        <pctVal>0.044939449300</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Flutter Entertainment PLC</name>
        <lei>635400EG4YIJLJMZJ782</lei>
        <title>Flutter Entertainment PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE00BWT6H894"/>
          <ticker value="FLTR"/>
          <other otherDesc="SEDOL" value="BWXC0Z1"/>
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        <balance>4250.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.77414360"/>
        <valUSD>930544.41000000</valUSD>
        <pctVal>0.058641334887</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NextEra Energy Inc</name>
        <lei>254900RHL9MEUS5NKX63</lei>
        <title>NextEra Energy Inc</title>
        <cusip>65339F101</cusip>
        <identifiers>
          <isin value="US65339F1012"/>
          <ticker value="NEE"/>
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        <balance>65000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4607850.00000000</valUSD>
        <pctVal>0.290378913738</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Perrigo Co PLC</name>
        <lei>549300IFOQS6R1QLY196</lei>
        <title>Perrigo Co PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE00BGH1M568"/>
          <ticker value="PRGO"/>
          <other otherDesc="SEDOL" value="BGH1M56"/>
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        <balance>31500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>883260.00000000</valUSD>
        <pctVal>0.055661551341</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Franklin BSP Realty Trust Inc</name>
        <lei>549300LH3QNZK9Y1KC93</lei>
        <title>Franklin BSP Realty Trust Inc</title>
        <cusip>35243J101</cusip>
        <identifiers>
          <isin value="US35243J1016"/>
          <ticker value="FBRT"/>
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        <balance>13707.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>174627.18000000</valUSD>
        <pctVal>0.011004709536</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Kimball Electronics Inc</name>
        <lei>549300COBYN2GZCBIU87</lei>
        <title>Kimball Electronics Inc</title>
        <cusip>49428J109</cusip>
        <identifiers>
          <isin value="US49428J1097"/>
          <ticker value="KE"/>
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        <balance>15525.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>255386.25000000</valUSD>
        <pctVal>0.016094009539</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Rayonier Inc</name>
        <lei>HGV8VDVNL0W6SF2U9C50</lei>
        <title>Rayonier Inc</title>
        <cusip>754907103</cusip>
        <identifiers>
          <isin value="US7549071030"/>
          <ticker value="RYN"/>
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        <balance>17260.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>481208.80000000</valUSD>
        <pctVal>0.030324964707</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Allegion plc</name>
        <lei>984500560CAC2E6FB757</lei>
        <title>Allegion plc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE00BFRT3W74"/>
          <ticker value="ALLE"/>
          <other otherDesc="SEDOL" value="BFRT3W7"/>
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        <balance>8000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1043680.00000000</valUSD>
        <pctVal>0.065770948422</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Hubbell Inc</name>
        <lei>54930088VDQ6840Y6597</lei>
        <title>Hubbell Inc</title>
        <cusip>443510607</cusip>
        <identifiers>
          <isin value="US4435106079"/>
          <ticker value="HUBB"/>
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        <balance>7500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2481825.00000000</valUSD>
        <pctVal>0.156400413986</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Oxford Metrics PLC</name>
        <lei>2138002ZKGRM1MQ8JW43</lei>
        <title>Oxford Metrics PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0030312788"/>
          <ticker value="OMG"/>
          <other otherDesc="SEDOL" value="3031278"/>
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        <balance>145000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.77414360"/>
        <valUSD>100769.42000000</valUSD>
        <pctVal>0.006350318416</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FMC Corp</name>
        <lei>CKDHZ2X64EEBQCSP7013</lei>
        <title>FMC Corp</title>
        <cusip>302491303</cusip>
        <identifiers>
          <isin value="US3024913036"/>
          <ticker value="FMC"/>
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        <balance>7000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>295330.00000000</valUSD>
        <pctVal>0.018611197108</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Flowserve Corp</name>
        <lei>6Y0GK87T6V7NJKZJVM41</lei>
        <title>Flowserve Corp</title>
        <cusip>34354P105</cusip>
        <identifiers>
          <isin value="US34354P1057"/>
          <ticker value="FLS"/>
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        <balance>165300.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8073252.00000000</valUSD>
        <pctVal>0.508762686740</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Mueller Water Products Inc</name>
        <lei>549300F7ZU4P1F8V8L60</lei>
        <title>Mueller Water Products Inc</title>
        <cusip>624758108</cusip>
        <identifiers>
          <isin value="US6247581084"/>
          <ticker value="MWA"/>
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        <balance>59000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1499780.00000000</valUSD>
        <pctVal>0.094513599020</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ingredion Inc</name>
        <lei>PKSTQ48QDN0XSVS7YK88</lei>
        <title>Ingredion Inc</title>
        <cusip>457187102</cusip>
        <identifiers>
          <isin value="US4571871023"/>
          <ticker value="INGR"/>
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        <balance>3200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>432672.00000000</valUSD>
        <pctVal>0.027266257661</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ingersoll Rand Inc</name>
        <lei>5299004C02FMZCUOIR50</lei>
        <title>Ingersoll Rand Inc</title>
        <cusip>45687V106</cusip>
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          <isin value="US45687V1061"/>
          <ticker value="IR"/>
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        <balance>28000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2240840.00000000</valUSD>
        <pctVal>0.141213946864</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Salesforce Inc</name>
        <lei>RCGZFPDMRW58VJ54VR07</lei>
        <title>Salesforce Inc</title>
        <cusip>79466L302</cusip>
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          <isin value="US79466L3024"/>
          <ticker value="CRM"/>
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        <balance>550.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>147598.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Henry Schein Inc</name>
        <lei>VGO3WGL8H45T73F4RR92</lei>
        <title>Henry Schein Inc</title>
        <cusip>806407102</cusip>
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          <isin value="US8064071025"/>
          <ticker value="HSIC"/>
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        <balance>59000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4040910.00000000</valUSD>
        <pctVal>0.254651313804</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
        <cusip>617446448</cusip>
        <identifiers>
          <isin value="US6174464486"/>
          <ticker value="MS"/>
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        <balance>29000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3383430.00000000</valUSD>
        <pctVal>0.213218036201</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Cullen/Frost Bankers Inc</name>
        <lei>529900V2E9G9AY665O34</lei>
        <title>Cullen/Frost Bankers Inc</title>
        <cusip>229899109</cusip>
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          <isin value="US2298991090"/>
          <ticker value="CFR"/>
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        <balance>5000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>626000.00000000</valUSD>
        <pctVal>0.039449461245</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Cigna Group/The</name>
        <lei>549300VIWYMSIGT1U456</lei>
        <title>Cigna Group/The</title>
        <cusip>125523100</cusip>
        <identifiers>
          <isin value="US1255231003"/>
          <ticker value="CI"/>
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        <balance>2000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>658000.00000000</valUSD>
        <pctVal>0.041466047123</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Universal Entertainment Corp</name>
        <lei>353800BBJTHSMSQ31V91</lei>
        <title>Universal Entertainment Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3126130008"/>
          <ticker value="6425"/>
          <other otherDesc="SEDOL" value="6126892"/>
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        <balance>58000.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="149.99000000"/>
        <valUSD>408733.92000000</valUSD>
        <pctVal>0.025757720346</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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      <invstOrSec>
        <name>Oil-Dri Corp of America</name>
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      <invstOrSec>
        <name>Portland General Electric Co</name>
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      <invstOrSec>
        <name>Bollore SE</name>
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      <invstOrSec>
        <name>Seritage Growth Properties</name>
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        <name>XPLR Infrastructure LP</name>
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        <assetCat>EC</assetCat>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AutoNation Inc</name>
        <lei>N/A</lei>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Boston Beer Co Inc/The</name>
        <lei>529900Q02MQ0DCQNRM58</lei>
        <title>Boston Beer Co Inc/The</title>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Proto Labs Inc</name>
        <lei>529900QHG5MGWT2WQQ09</lei>
        <title>Proto Labs Inc</title>
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          <ticker value="PRLB"/>
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        <invCountry>US</invCountry>
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        <name>Iridium Communications Inc</name>
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        <title>Iridium Communications Inc</title>
        <cusip>46269C102</cusip>
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          <ticker value="IRDM"/>
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          <isCashCollateral>N</isCashCollateral>
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        <name>LVMH Moet Hennessy Louis Vuitt</name>
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        <title>LVMH Moet Hennessy Louis Vuitton SE</title>
        <cusip>000000000</cusip>
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          <isin value="FR0000121014"/>
          <ticker value="MC"/>
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        <invCountry>FR</invCountry>
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      <invstOrSec>
        <name>Philip Morris International In</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>Philip Morris International Inc</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <name>T-Mobile US Inc</name>
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        <title>T-Mobile US Inc</title>
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        <name>Microsoft Corp</name>
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        <title>Microsoft Corp</title>
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        <name>GE Vernova Inc</name>
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        <title>GE Vernova Inc</title>
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        <name>New Fortress Energy Inc</name>
        <lei>254900EICTYTCHA5X705</lei>
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        <name>Marsh &amp; McLennan Cos Inc</name>
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        <name>Millrose Properties Inc</name>
        <lei>N/A</lei>
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        <name>Arlo Technologies Inc</name>
        <lei>549300T4EUX2OQ75HV52</lei>
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        <name>Television Broadcasts Ltd</name>
        <lei>N/A</lei>
        <title>Television Broadcasts Ltd</title>
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        <name>Triumph Group Inc</name>
        <lei>5493007L6S47Q14SL582</lei>
        <title>Triumph Group Inc</title>
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          <ticker value="TGI"/>
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        <name>Rogers Corp</name>
        <lei>PW0CN80KNFR7RUOOKJ84</lei>
        <title>Rogers Corp</title>
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        <invCountry>US</invCountry>
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        <name>Berkshire Hathaway Inc</name>
        <lei>5493000C01ZX7D35SD85</lei>
        <title>Berkshire Hathaway Inc</title>
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          <isCashCollateral>N</isCashCollateral>
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        <name>GAM Holding AG</name>
        <lei>549300GGVID7ZGDMX291</lei>
        <title>GAM Holding AG</title>
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        <invCountry>CH</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Backblaze Inc</name>
        <lei>N/A</lei>
        <title>Backblaze Inc</title>
        <cusip>05637B105</cusip>
        <identifiers>
          <isin value="US05637B1052"/>
          <ticker value="BLZE"/>
        </identifiers>
        <balance>1500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7245.00000000</valUSD>
        <pctVal>0.000456567646</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>nVent Electric PLC</name>
        <lei>N/A</lei>
        <title>nVent Electric PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE00BDVJJQ56"/>
          <ticker value="NVT"/>
          <other otherDesc="SEDOL" value="BDVJJQ5"/>
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        <balance>23000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1205660.00000000</valUSD>
        <pctVal>0.075978654065</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>T Rowe Price Group Inc</name>
        <lei>549300SIV6FPS9Y7IH33</lei>
        <title>T Rowe Price Group Inc</title>
        <cusip>74144T108</cusip>
        <identifiers>
          <isin value="US74144T1088"/>
          <ticker value="TROW"/>
        </identifiers>
        <balance>66500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6109355.00000000</valUSD>
        <pctVal>0.385001219341</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Diamond Hill Investment Group</name>
        <lei>549300AQ6779A0B7VZ57</lei>
        <title>Diamond Hill Investment Group Inc</title>
        <cusip>25264R207</cusip>
        <identifiers>
          <isin value="US25264R2076"/>
          <ticker value="DHIL"/>
        </identifiers>
        <balance>3202.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>457373.68000000</valUSD>
        <pctVal>0.028822915757</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Innovative Solutions and Suppo</name>
        <lei>N/A</lei>
        <title>Innovative Solutions and Support Inc</title>
        <cusip>45769N105</cusip>
        <identifiers>
          <isin value="US45769N1054"/>
          <ticker value="ISSC"/>
        </identifiers>
        <balance>10000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>62900.00000000</valUSD>
        <pctVal>0.003963851617</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Better Collective A/S</name>
        <lei>2549001EPXH6NK7I2R78</lei>
        <title>Better Collective A/S</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DK0060952240"/>
          <ticker value="BETCO"/>
          <other otherDesc="SEDOL" value="BFYR3S0"/>
        </identifiers>
        <balance>23000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="10.05180000"/>
        <valUSD>254441.99000000</valUSD>
        <pctVal>0.016034503871</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Intuit Inc</name>
        <lei>VI90HBPH7XSFMB9E4M29</lei>
        <title>Intuit Inc</title>
        <cusip>461202103</cusip>
        <identifiers>
          <isin value="US4612021034"/>
          <ticker value="INTU"/>
        </identifiers>
        <balance>270.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>165777.30000000</valUSD>
        <pctVal>0.010447005066</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Texas Instruments Inc</name>
        <lei>WDJNR2L6D8RWOEB8T652</lei>
        <title>Texas Instruments Inc</title>
        <cusip>882508104</cusip>
        <identifiers>
          <isin value="US8825081040"/>
          <ticker value="TXN"/>
        </identifiers>
        <balance>177304.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>31861528.80000000</valUSD>
        <pctVal>2.007859657539</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Novartis AG</name>
        <lei>5493007HIVTX6SY6XD66</lei>
        <title>Novartis AG</title>
        <cusip>66987V109</cusip>
        <identifiers>
          <isin value="US66987V1098"/>
          <ticker value="NVS"/>
        </identifiers>
        <balance>69900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7792452.00000000</valUSD>
        <pctVal>0.491067145657</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Capgemini SE</name>
        <lei>96950077L0TN7BAROX36</lei>
        <title>Capgemini SE</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0000125338"/>
          <ticker value="CAP"/>
          <other otherDesc="SEDOL" value="4163437"/>
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        <balance>1250.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
        <valUSD>186591.83000000</valUSD>
        <pctVal>0.011758701543</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Johnson &amp; Johnson</name>
        <lei>549300G0CFPGEF6X2043</lei>
        <title>Johnson &amp; Johnson</title>
        <cusip>478160104</cusip>
        <identifiers>
          <isin value="US4781601046"/>
          <ticker value="JNJ"/>
        </identifiers>
        <balance>24100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3996744.00000000</valUSD>
        <pctVal>0.251868047182</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Heineken Holding NV</name>
        <lei>724500M1WJLFM9TYBS04</lei>
        <title>Heineken Holding NV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL0000008977"/>
          <ticker value="HEIO"/>
          <other otherDesc="SEDOL" value="B0CCH46"/>
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        <balance>3500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
        <valUSD>253186.40000000</valUSD>
        <pctVal>0.015955378713</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chipotle Mexican Grill Inc</name>
        <lei>N/A</lei>
        <title>Chipotle Mexican Grill Inc</title>
        <cusip>169656105</cusip>
        <identifiers>
          <isin value="US1696561059"/>
          <ticker value="CMG"/>
        </identifiers>
        <balance>3500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>175735.00000000</valUSD>
        <pctVal>0.011074522479</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AbbVie Inc</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>AbbVie Inc</title>
        <cusip>00287Y109</cusip>
        <identifiers>
          <isin value="US00287Y1091"/>
          <ticker value="ABBV"/>
        </identifiers>
        <balance>563.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>117959.76000000</valUSD>
        <pctVal>0.007433624569</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Advanced Micro Devices Inc</name>
        <lei>R2I72C950HOYXII45366</lei>
        <title>Advanced Micro Devices Inc</title>
        <cusip>007903107</cusip>
        <identifiers>
          <isin value="US0079031078"/>
          <ticker value="AMD"/>
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        <balance>8000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>821920.00000000</valUSD>
        <pctVal>0.051796008285</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mastercard Inc</name>
        <lei>AR5L2ODV9HN37376R084</lei>
        <title>Mastercard Inc</title>
        <cusip>57636Q104</cusip>
        <identifiers>
          <isin value="US57636Q1040"/>
          <ticker value="MA"/>
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        <balance>97930.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>53677391.60000000</valUSD>
        <pctVal>3.382658434003</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Deutsche Post AG</name>
        <lei>8ER8GIG7CSMVD8VUFE78</lei>
        <title>Deutsche Post AG</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE0005552004"/>
          <ticker value="DHL"/>
          <other otherDesc="SEDOL" value="4617859"/>
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        <balance>2000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
        <valUSD>85379.45000000</valUSD>
        <pctVal>0.005380468536</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cipher Mining Inc</name>
        <lei>N/A</lei>
        <title>Cipher Mining Inc</title>
        <cusip>17253J106</cusip>
        <identifiers>
          <isin value="US17253J1060"/>
          <ticker value="CIFR"/>
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        <balance>15000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>34500.00000000</valUSD>
        <pctVal>0.002174131650</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NII Holdings Escrow</name>
        <lei>N/A</lei>
        <title>NII Holdings Escrow</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="629ESC013"/>
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        <balance>1100000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>385000.00000000</valUSD>
        <pctVal>0.024262048849</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Spirit AeroSystems Holdings In</name>
        <lei>N/A</lei>
        <title>Spirit AeroSystems Holdings Inc</title>
        <cusip>848574109</cusip>
        <identifiers>
          <isin value="US8485741099"/>
          <ticker value="SPR"/>
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        <balance>103500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3566610.00000000</valUSD>
        <pctVal>0.224761729988</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TreeHouse Foods Inc</name>
        <lei>5493007M7EVHE470Q576</lei>
        <title>TreeHouse Foods Inc</title>
        <cusip>89469A104</cusip>
        <identifiers>
          <isin value="US89469A1043"/>
          <ticker value="THS"/>
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        <balance>7500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>203175.00000000</valUSD>
        <pctVal>0.012803744869</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Flowers Foods Inc</name>
        <lei>7YNCQQNDK8FBM9BBTK25</lei>
        <title>Flowers Foods Inc</title>
        <cusip>343498101</cusip>
        <identifiers>
          <isin value="US3434981011"/>
          <ticker value="FLO"/>
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        <balance>90000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1710900.00000000</valUSD>
        <pctVal>0.107818024353</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Eli Lilly &amp; Co</name>
        <lei>FRDRIPF3EKNDJ2CQJL29</lei>
        <title>Eli Lilly &amp; Co</title>
        <cusip>532457108</cusip>
        <identifiers>
          <isin value="US5324571083"/>
          <ticker value="LLY"/>
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        <balance>470.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>388177.70000000</valUSD>
        <pctVal>0.024462302128</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dowlais Group PLC</name>
        <lei>213800XM8WOFLY6VPC92</lei>
        <title>Dowlais Group PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BMWRZ071"/>
          <ticker value="DWL"/>
          <other otherDesc="SEDOL" value="BMWRZ07"/>
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        <name>Accor SA</name>
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        <name>Telecom Argentina SA</name>
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        <name>Interactive Brokers Group Inc</name>
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        <name>Alliance Resource Partners LP</name>
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        <name>Venture Global Inc</name>
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        <name>RTX Corp</name>
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        <name>GATX Corp</name>
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        <name>Grupo Televisa SAB</name>
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        <name>SkyWater Technology Inc</name>
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        <name>Energizer Holdings Inc</name>
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        <name>Beacon Roofing Supply Inc</name>
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        <name>Royce Small-Cap Trust Inc</name>
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        <name>Hellenic Telecommunications Or</name>
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        <name>Axis Capital Holdings Ltd</name>
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        <name>Take-Two Interactive Software</name>
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        <name>Honeywell International Inc</name>
        <lei>ISRPG12PN4EIEOEMW547</lei>
        <title>Honeywell International Inc</title>
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      <invstOrSec>
        <name>Edgio Inc</name>
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      <invstOrSec>
        <name>Toro Co/The</name>
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        <name>Demant A/S</name>
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      <invstOrSec>
        <name>AMPCO-PITTSBURGH CORP</name>
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      <invstOrSec>
        <name>Societe Generale SA</name>
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        <name>API Group Corp</name>
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        <name>Tootsie Roll Industries Inc</name>
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      <invstOrSec>
        <name>Super Group SGHC Ltd</name>
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        <name>Barrick Gold Corp</name>
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          <isCashCollateral>N</isCashCollateral>
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        <name>CMS Energy Corp</name>
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        <name>Kraft Heinz Co/The</name>
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        <name>Gerresheimer AG</name>
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        <name>Crimson Wine Group Ltd</name>
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        <name>Enbridge Inc</name>
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        <name>BCE Inc</name>
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        <name>Alphawave IP Group PLC</name>
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        <name>Ajinomoto Co Inc</name>
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        <name>Sherwin-Williams Co/The</name>
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        <name>Evergy Inc</name>
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        <name>Assa Abloy AB</name>
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        <name>Baxter International Inc</name>
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        <name>Morinaga Milk Industry Co Ltd</name>
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        <name>Warner Bros Discovery Inc</name>
        <lei>5493006ZCRFWKF6B1K26</lei>
        <title>Warner Bros Discovery Inc</title>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Toray Industries Inc</name>
        <lei>35380099TCYR5FHT0A11</lei>
        <title>Toray Industries Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3621000003"/>
          <ticker value="3402"/>
          <other otherDesc="SEDOL" value="6897143"/>
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        <balance>100000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="149.99000000"/>
        <valUSD>677378.49000000</valUSD>
        <pctVal>0.042687246788</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Danone SA</name>
        <lei>969500KMUQ2B6CBAF162</lei>
        <title>Danone SA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0000120644"/>
          <ticker value="BN"/>
          <other otherDesc="SEDOL" value="B1Y9TB3"/>
        </identifiers>
        <balance>172000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
        <valUSD>13175078.22000000</valUSD>
        <pctVal>0.830271146400</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Garrett Motion Inc</name>
        <lei>549300LS5WT7EMBNV724</lei>
        <title>Garrett Motion Inc</title>
        <cusip>366505105</cusip>
        <identifiers>
          <isin value="US3665051054"/>
          <ticker value="GTX"/>
        </identifiers>
        <balance>210000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1757700.00000000</valUSD>
        <pctVal>0.110767281200</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Pfizer Inc</name>
        <lei>765LHXWGK1KXCLTFYQ30</lei>
        <title>Pfizer Inc</title>
        <cusip>717081103</cusip>
        <identifiers>
          <isin value="US7170811035"/>
          <ticker value="PFE"/>
        </identifiers>
        <balance>116500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2952110.00000000</valUSD>
        <pctVal>0.186036979293</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Mandarin Oriental Internationa</name>
        <lei>213800KQ1UMKZ1JXJR80</lei>
        <title>Mandarin Oriental International Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG578481068"/>
          <ticker value="MAND"/>
          <other otherDesc="SEDOL" value="6560713"/>
        </identifiers>
        <balance>3938500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6892375.00000000</valUSD>
        <pctVal>0.434345815418</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Havas NV</name>
        <lei>894500L53AVOFQK7T710</lei>
        <title>Havas NV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL0015002AH0"/>
          <ticker value="HAVAS"/>
          <other otherDesc="SEDOL" value="BT6MF41"/>
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        <balance>579000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
        <valUSD>823285.60000000</valUSD>
        <pctVal>0.051882066088</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Unilever PLC</name>
        <lei>549300MKFYEKVRWML317</lei>
        <title>Unilever PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B10RZP78"/>
          <ticker value="ULVR"/>
          <other otherDesc="SEDOL" value="B10RZP7"/>
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        <balance>4280.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.77414360"/>
        <valUSD>254872.61000000</valUSD>
        <pctVal>0.016061640815</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Johnson Matthey PLC</name>
        <lei>2138001AVBSD1HSC6Z10</lei>
        <title>Johnson Matthey PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BZ4BQC70"/>
          <ticker value="JMAT"/>
          <other otherDesc="SEDOL" value="BZ4BQC7"/>
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        <balance>2800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.77414360"/>
        <valUSD>47887.76000000</valUSD>
        <pctVal>0.003017805642</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ampco-Pittsburgh Corp</name>
        <lei>N/A</lei>
        <title>Ampco-Pittsburgh Corp</title>
        <cusip>032037103</cusip>
        <identifiers>
          <isin value="US0320371034"/>
          <ticker value="AP"/>
        </identifiers>
        <balance>412000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>894040.00000000</valUSD>
        <pctVal>0.056340888709</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cisco Systems Inc</name>
        <lei>549300LKFJ962MZ46593</lei>
        <title>Cisco Systems Inc</title>
        <cusip>17275R102</cusip>
        <identifiers>
          <isin value="US17275R1023"/>
          <ticker value="CSCO"/>
        </identifiers>
        <balance>6000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>370260.00000000</valUSD>
        <pctVal>0.023333158978</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Superior Industries Internatio</name>
        <lei>54930065O5ZIQD1F8U04</lei>
        <title>Superior Industries International Inc</title>
        <cusip>868168105</cusip>
        <identifiers>
          <isin value="US8681681057"/>
          <ticker value="SUP"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>213000.00000000</valUSD>
        <pctVal>0.013422899752</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tenaris SA</name>
        <lei>549300Y7C05BKC4HZB40</lei>
        <title>Tenaris SA</title>
        <cusip>88031M109</cusip>
        <identifiers>
          <isin value="US88031M1099"/>
          <ticker value="TS"/>
        </identifiers>
        <balance>20000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>782200.00000000</valUSD>
        <pctVal>0.049292921064</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>N-able Inc/US</name>
        <lei>N/A</lei>
        <title>N-able Inc/US</title>
        <cusip>62878D100</cusip>
        <identifiers>
          <isin value="US62878D1000"/>
          <ticker value="NABL"/>
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        <balance>30400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>215536.00000000</valUSD>
        <pctVal>0.013582714183</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Severn Trent PLC</name>
        <lei>213800RPBXRETY4A4C59</lei>
        <title>Severn Trent PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B1FH8J72"/>
          <ticker value="SVT"/>
          <other otherDesc="SEDOL" value="B1FH8J7"/>
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        <balance>2450.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.77414360"/>
        <valUSD>80100.77000000</valUSD>
        <pctVal>0.005047815050</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ollamani SAB</name>
        <lei>N/A</lei>
        <title>Ollamani SAB</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="MX01AG080022"/>
          <ticker value="AGUILCPO"/>
          <other otherDesc="SEDOL" value="BS89BX4"/>
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        <balance>383000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="20.46450000"/>
        <valUSD>851360.65000000</valUSD>
        <pctVal>0.053651308255</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Movella Holdings Inc</name>
        <lei>549300MY5MYSR79R7L50</lei>
        <title>MOVELLA HOLDINGS INC</title>
        <cusip>62459N105</cusip>
        <identifiers>
          <isin value="US62459N1054"/>
          <ticker value="MVLA"/>
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        <balance>25000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>625.00000000</valUSD>
        <pctVal>0.000039386442</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JPMorgan Chase &amp; Co</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co</title>
        <cusip>46625H100</cusip>
        <identifiers>
          <isin value="US46625H1005"/>
          <ticker value="JPM"/>
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        <balance>30600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7506180.00000000</valUSD>
        <pctVal>0.473026768389</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Enovis Corp</name>
        <lei>635400OP2DYYYMOIYL17</lei>
        <title>Enovis Corp</title>
        <cusip>194014502</cusip>
        <identifiers>
          <isin value="US1940145022"/>
          <ticker value="ENOV"/>
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        <balance>2000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>76420.00000000</valUSD>
        <pctVal>0.004815859150</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Sphere Entertainment Co</name>
        <lei>254900ZW4JWKYRZZ9A91</lei>
        <title>Sphere Entertainment Co</title>
        <cusip>55826T102</cusip>
        <identifiers>
          <isin value="US55826T1025"/>
          <ticker value="SPHR"/>
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        <balance>141974.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4645389.28000000</valUSD>
        <pctVal>0.292744575673</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EXOR NV</name>
        <lei>5493002ENHZ6NYET7405</lei>
        <title>EXOR NV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL0012059018"/>
          <ticker value="EXO"/>
          <other otherDesc="SEDOL" value="BMJ1825"/>
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        <balance>3000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Comcast Corp</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>Comcast Corp</title>
        <cusip>20030N101</cusip>
        <identifiers>
          <isin value="US20030N1019"/>
          <ticker value="CMCSA"/>
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        <balance>168980.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6235362.00000000</valUSD>
        <pctVal>0.392941967365</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Rockwell Automation Inc</name>
        <lei>VH3R4HHBHH12O0EXZJ88</lei>
        <title>Rockwell Automation Inc</title>
        <cusip>773903109</cusip>
        <identifiers>
          <isin value="US7739031091"/>
          <ticker value="ROK"/>
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        <balance>16900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4366622.00000000</valUSD>
        <pctVal>0.275177133167</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ATN International Inc</name>
        <lei>54930013NP7VEU877V56</lei>
        <title>ATN International Inc</title>
        <cusip>00215F107</cusip>
        <identifiers>
          <isin value="US00215F1075"/>
          <ticker value="ATNI"/>
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        <balance>55000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1117050.00000000</valUSD>
        <pctVal>0.070394601732</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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      <invstOrSec>
        <name>Intercontinental Exchange Inc</name>
        <lei>5493000F4ZO33MV32P92</lei>
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        <cusip>45866F104</cusip>
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          <isin value="US45866F1049"/>
          <ticker value="ICE"/>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>Vivendi SE</name>
        <lei>969500FU4DRAEVJW7U54</lei>
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          <isin value="FR0000127771"/>
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        <invCountry>FR</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NOV Inc</name>
        <lei>549300EHF3IW1AR6U008</lei>
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          <isin value="US62955J1034"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Zimmer Biomet Holdings Inc</name>
        <lei>2P2YLDVPES3BXQ1FRB91</lei>
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        <cusip>98956P102</cusip>
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          <ticker value="ZBH"/>
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        <balance>12000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1358160.00000000</valUSD>
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        <assetCat>EC</assetCat>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Masterbrand Inc</name>
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          <isin value="US57638P1049"/>
          <ticker value="MBC"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Griffon Corp</name>
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          <isin value="US3984331021"/>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Hellenic Telecommunications Or</name>
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        <title>Hellenic Telecommunications Organization SA</title>
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          <isin value="GRS260333000"/>
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      <invstOrSec>
        <name>Agilent Technologies Inc</name>
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      <invstOrSec>
        <name>Resideo Technologies Inc</name>
        <lei>5493006TKFPYISY2DS54</lei>
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          <ticker value="REZI"/>
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      <invstOrSec>
        <name>Noble Corp PLC</name>
        <lei>549300I3HBUNXO0OG954</lei>
        <title>Noble Corp PLC</title>
        <cusip>000000000</cusip>
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        <balance>2779.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>DuPont de Nemours Inc</name>
        <lei>5493004JF0SDFLM8GD76</lei>
        <title>DuPont de Nemours Inc</title>
        <cusip>26614N102</cusip>
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          <ticker value="DD"/>
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        <curCd>USD</curCd>
        <valUSD>3360600.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Diageo PLC</name>
        <lei>213800ZVIELEA55JMJ32</lei>
        <title>Diageo PLC</title>
        <cusip>25243Q205</cusip>
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          <isin value="US25243Q2057"/>
          <ticker value="DEO"/>
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        <balance>140000.00000000</balance>
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        <valUSD>14670600.00000000</valUSD>
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        <invCountry>GB</invCountry>
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        <name>Tenet Healthcare Corp</name>
        <lei>0W9AIBT6U6ADJ2I8HK17</lei>
        <title>Tenet Healthcare Corp</title>
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          <ticker value="THC"/>
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        <balance>335.00000000</balance>
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        <name>O'Reilly Automotive Inc</name>
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        <title>O'Reilly Automotive Inc</title>
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        <name>Travel + Leisure Co</name>
        <lei>T4VNTWMFQ7JQB65L7T35</lei>
        <title>Travel + Leisure Co</title>
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        <name>Oracle Corp</name>
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        <title>Oracle Corp</title>
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        <name>International Game Technology</name>
        <lei>549300UQ6KHRCZDRGZ76</lei>
        <title>International Game Technology PLC</title>
        <cusip>000000000</cusip>
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        <name>Merck &amp; Co Inc</name>
        <lei>4YV9Y5M8S0BRK1RP0397</lei>
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        <cusip>58933Y105</cusip>
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          <ticker value="MRK"/>
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        <name>Niko Resources Ltd</name>
        <lei>N/A</lei>
        <title>Niko Resources Ltd</title>
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          <ticker value="NKRSF"/>
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        <name>Lennar Corp</name>
        <lei>529900G61XVRLX5TJX09</lei>
        <title>Lennar Corp</title>
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        <name>Lamar Advertising Co</name>
        <lei>529900Y8WW4MKVPTB543</lei>
        <title>Lamar Advertising Co</title>
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        <invCountry>US</invCountry>
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        <name>Roche Holding AG</name>
        <lei>549300U41AUUVOAAOB37</lei>
        <title>Roche Holding AG</title>
        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

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        <name>Piaggio &amp; C SpA</name>
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        <title>Piaggio &amp; C SpA</title>
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        <assetCat>EC</assetCat>
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        <invCountry>IT</invCountry>
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      </invstOrSec>
      <invstOrSec>
        <name>Standard Chartered PLC</name>
        <lei>U4LOSYZ7YG4W3S5F2G91</lei>
        <title>Standard Chartered PLC</title>
        <cusip>000000000</cusip>
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          <isin value="GB0004082847"/>
          <ticker value="STAN"/>
          <other otherDesc="SEDOL" value="0408284"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Evolent Health Inc</name>
        <lei>549300CZOCFHQ2BBTR11</lei>
        <title>Evolent Health Inc</title>
        <cusip>30050B101</cusip>
        <identifiers>
          <isin value="US30050B1017"/>
          <ticker value="EVH"/>
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        <balance>13800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>130686.00000000</valUSD>
        <pctVal>0.008235610690</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lions Gate Entertainment Corp</name>
        <lei>5493000JSMHPHZURLM72</lei>
        <title>Lions Gate Entertainment Corp</title>
        <cusip>535919500</cusip>
        <identifiers>
          <isin value="CA5359195008"/>
          <ticker value="LGF/B"/>
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        <balance>15000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>118800.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ito En Ltd</name>
        <lei>N/A</lei>
        <title>Ito En Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="JP3143000002"/>
          <ticker value="2593"/>
          <other otherDesc="SEDOL" value="6455789"/>
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        <balance>97200.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Walgreens Boots Alliance Inc</name>
        <lei>549300RPTUOIXG4LIH86</lei>
        <title>Walgreens Boots Alliance Inc</title>
        <cusip>931427108</cusip>
        <identifiers>
          <isin value="US9314271084"/>
          <ticker value="WBA"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>335100.00000000</valUSD>
        <pctVal>0.021117435245</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Cable &amp; Wireless Jamaica Ltd</name>
        <lei>N/A</lei>
        <title>Cable &amp; Wireless Jamaica Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JMP192311026"/>
          <ticker value="CWJ"/>
          <other otherDesc="SEDOL" value="2880567"/>
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        <balance>7040836.00000000</balance>
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        <currencyConditional curCd="JMD" exchangeRt="158.04500000"/>
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        <pctVal>0.001628314323</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JM</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sunrise Communications AG</name>
        <lei>529900N9U6KXXOUJT875</lei>
        <title>Sunrise Communications AG</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CH1386220409"/>
          <ticker value="SUNN"/>
          <other otherDesc="SEDOL" value="BM9WB18"/>
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        <balance>85812.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Veolia Environnement SA</name>
        <lei>969500LENY69X51OOT31</lei>
        <title>Veolia Environnement SA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0000124141"/>
          <ticker value="VIE"/>
          <other otherDesc="SEDOL" value="4031879"/>
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        <balance>15620.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
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        <pctVal>0.033793852882</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Telesat Corp</name>
        <lei>N/A</lei>
        <title>Telesat Corp</title>
        <cusip>879512309</cusip>
        <identifiers>
          <isin value="CA8795123097"/>
          <ticker value="TSAT"/>
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        <balance>33000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>621390.00000000</valUSD>
        <pctVal>0.039158946842</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Truist Financial Corp</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp</title>
        <cusip>89832Q109</cusip>
        <identifiers>
          <isin value="US89832Q1094"/>
          <ticker value="TFC"/>
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        <balance>16700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>687205.00000000</valUSD>
        <pctVal>0.043306496829</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TIM SA/Brazil</name>
        <lei>529900QI0CH1DN5ZCS77</lei>
        <title>TIM SA/Brazil</title>
        <cusip>88706T108</cusip>
        <identifiers>
          <isin value="US88706T1088"/>
          <ticker value="TIMB"/>
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        <balance>46075.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>721073.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Boeing Co/The</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>Boeing Co/The</title>
        <cusip>097023105</cusip>
        <identifiers>
          <isin value="US0970231058"/>
          <ticker value="BA"/>
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        <balance>48900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8339895.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>IDEX Corp</name>
        <lei>549300U5Y5EL6PHYLF13</lei>
        <title>IDEX Corp</title>
        <cusip>45167R104</cusip>
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          <isin value="US45167R1041"/>
          <ticker value="IEX"/>
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        <balance>103200.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>18676104.00000000</valUSD>
        <pctVal>1.176936487165</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Check Point Software Technolog</name>
        <lei>2549003ZVBH73EPNS513</lei>
        <title>Check Point Software Technologies Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="IL0010824113"/>
          <ticker value="CHKP"/>
          <other otherDesc="SEDOL" value="2181334"/>
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        <balance>1600.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>364672.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Indivior PLC</name>
        <lei>213800V3NCQTY7IED471</lei>
        <title>Indivior PLC</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BN4HT335"/>
          <ticker value="INDV"/>
          <other otherDesc="SEDOL" value="BN4HT33"/>
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        <balance>9360.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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      <invstOrSec>
        <name>BBB Foods Inc</name>
        <lei>N/A</lei>
        <title>BBB Foods Inc</title>
        <cusip>000000000</cusip>
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          <isin value="VGG0896C1032"/>
          <ticker value="TBBB"/>
          <other otherDesc="SEDOL" value="BMCGP59"/>
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        <balance>51000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1360680.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>MX</invCountry>
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      <invstOrSec>
        <name>Bel Fuse Inc</name>
        <lei>2549009L4XYDBRRY6X39</lei>
        <title>Bel Fuse Inc</title>
        <cusip>077347201</cusip>
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          <isin value="US0773472016"/>
          <ticker value="BELFA"/>
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        <balance>3400.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>245004.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>SolarWinds Corp</name>
        <lei>N/A</lei>
        <title>SolarWinds Corp</title>
        <cusip>83417Q204</cusip>
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          <isin value="US83417Q2049"/>
          <ticker value="SWI"/>
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        <curCd>USD</curCd>
        <valUSD>350170.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Herc Holdings Inc</name>
        <lei>549300TP80QLITMSBP82</lei>
        <title>Herc Holdings Inc</title>
        <cusip>42704L104</cusip>
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          <isin value="US42704L1044"/>
          <ticker value="HRI"/>
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        <balance>62250.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Givaudan SA</name>
        <lei>213800SVRMQA1TD91D41</lei>
        <title>Givaudan SA</title>
        <cusip>000000000</cusip>
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          <isin value="CH0010645932"/>
          <ticker value="GIVN"/>
          <other otherDesc="SEDOL" value="5980613"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sika AG</name>
        <lei>549300R3N69ECGYPU434</lei>
        <title>Sika AG</title>
        <cusip>000000000</cusip>
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          <isin value="CH0418792922"/>
          <ticker value="SIKA"/>
          <other otherDesc="SEDOL" value="BF2DSG3"/>
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        <balance>12000.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Archer-Daniels-Midland Co</name>
        <lei>549300LO13MQ9HYSTR83</lei>
        <title>Archer-Daniels-Midland Co</title>
        <cusip>039483102</cusip>
        <identifiers>
          <isin value="US0394831020"/>
          <ticker value="ADM"/>
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        <balance>103000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4945030.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Johnson Outdoors Inc</name>
        <lei>N/A</lei>
        <title>Johnson Outdoors Inc</title>
        <cusip>479167108</cusip>
        <identifiers>
          <isin value="US4791671088"/>
          <ticker value="JOUT"/>
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        <balance>4000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>99360.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KBR Inc</name>
        <lei>254900OFQDXZRKRCV808</lei>
        <title>KBR Inc</title>
        <cusip>48242W106</cusip>
        <identifiers>
          <isin value="US48242W1062"/>
          <ticker value="KBR"/>
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        <balance>4000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>199240.00000000</valUSD>
        <pctVal>0.012555767825</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Berkshire Hathaway Inc</name>
        <lei>5493000C01ZX7D35SD85</lei>
        <title>Berkshire Hathaway Inc</title>
        <cusip>084670702</cusip>
        <identifiers>
          <isin value="US0846707026"/>
          <ticker value="BRK/B"/>
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        <balance>4500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2396610.00000000</valUSD>
        <pctVal>0.151030308811</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Micron Technology Inc</name>
        <lei>B3DXGBC8GAIYWI2Z0172</lei>
        <title>Micron Technology Inc</title>
        <cusip>595112103</cusip>
        <identifiers>
          <isin value="US5951121038"/>
          <ticker value="MU"/>
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        <balance>4000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>347560.00000000</valUSD>
        <pctVal>0.021902643371</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Steel Partners Holdings LP</name>
        <lei>5493009U8Z59G5SIZ389</lei>
        <title>Steel Partners Holdings LP</title>
        <cusip>85814R107</cusip>
        <identifiers>
          <isin value="US85814R1077"/>
          <ticker value="SPLP"/>
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        <balance>390000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15991950.00000000</valUSD>
        <pctVal>1.007785641798</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Eastern Co/The</name>
        <lei>5493005F8SU7UCM5D285</lei>
        <title>Eastern Co/The</title>
        <cusip>276317104</cusip>
        <identifiers>
          <isin value="US2763171046"/>
          <ticker value="EML"/>
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        <balance>2500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>63300.00000000</valUSD>
        <pctVal>0.003989058940</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Johnson Controls International</name>
        <lei>549300XQ6S1GYKGBL205</lei>
        <title>Johnson Controls International plc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE00BY7QL619"/>
          <ticker value="JCI"/>
          <other otherDesc="SEDOL" value="BY7QL61"/>
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        <balance>160000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12817600.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Liberty Latin America Ltd</name>
        <lei>213800YWQHEAX7CAVO83</lei>
        <title>Liberty Latin America Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG9001E1021"/>
          <ticker value="LILA"/>
          <other otherDesc="SEDOL" value="BD9Q3P5"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>949500.00000000</valUSD>
        <pctVal>0.059835884109</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Anterix Inc</name>
        <lei>549300QIX2QHFGIEQG40</lei>
        <title>Anterix Inc</title>
        <cusip>03676C100</cusip>
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          <isin value="US03676C1009"/>
          <ticker value="ATEX"/>
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        <balance>15000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>549000.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Regal Rexnord Corp</name>
        <lei>QH78R09VCJGQKPBPYU33</lei>
        <title>Regal Rexnord Corp</title>
        <cusip>758750103</cusip>
        <identifiers>
          <isin value="US7587501039"/>
          <ticker value="RRX"/>
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        <balance>6688.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>761428.80000000</valUSD>
        <pctVal>0.047983955170</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Amphenol Corp</name>
        <lei>549300D3L3G0R4U4VT04</lei>
        <title>Amphenol Corp</title>
        <cusip>032095101</cusip>
        <identifiers>
          <isin value="US0320951017"/>
          <ticker value="APH"/>
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        <balance>28000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1836520.00000000</valUSD>
        <pctVal>0.115734384291</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Halliburton Co</name>
        <lei>ENYF8GB5SMQZ25S06U51</lei>
        <title>Halliburton Co</title>
        <cusip>406216101</cusip>
        <identifiers>
          <isin value="US4062161017"/>
          <ticker value="HAL"/>
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        <balance>223000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5657510.00000000</valUSD>
        <pctVal>0.356526711647</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HB Fuller Co</name>
        <lei>JSMX3Z5FOYM8V0Q52357</lei>
        <title>HB Fuller Co</title>
        <cusip>359694106</cusip>
        <identifiers>
          <isin value="US3596941068"/>
          <ticker value="FUL"/>
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        <balance>15000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>841800.00000000</valUSD>
        <pctVal>0.053048812262</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
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      <invstOrSec>
        <name>Iveco Group NV</name>
        <lei>549300ZWF2ZJDD9EOR96</lei>
        <title>Iveco Group NV</title>
        <cusip>000000000</cusip>
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          <isin value="NL0015000LU4"/>
          <ticker value="IVG"/>
          <other otherDesc="SEDOL" value="BKPGF52"/>
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        <balance>186900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
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        <pctVal>0.191926746046</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill</title>
        <cusip>912797LN5</cusip>
        <identifiers>
          <isin value="US912797LN52"/>
          <other otherDesc="SEDOL" value="BSLSTR8"/>
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        <balance>3215000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3188055.09000000</valUSD>
        <pctVal>0.200905839810</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-12</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Deutsche Telekom AG</name>
        <lei>549300V9QSIG4WX4GJ96</lei>
        <title>Deutsche Telekom AG</title>
        <cusip>000000000</cusip>
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          <isin value="DE0005557508"/>
          <ticker value="DTE"/>
          <other otherDesc="SEDOL" value="5842359"/>
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        <balance>8000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Alcon AG</name>
        <lei>549300LDT5AP8S0NBM78</lei>
        <title>Alcon AG</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CH0432492467"/>
          <ticker value="ALC"/>
          <other otherDesc="SEDOL" value="BJXBP41"/>
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        <balance>14000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1329020.00000000</valUSD>
        <pctVal>0.083752592627</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Kratos Defense &amp; Security Solu</name>
        <lei>5493000EKBN0UY1F3F88</lei>
        <title>Kratos Defense &amp; Security Solutions Inc</title>
        <cusip>50077B207</cusip>
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          <isin value="US50077B2079"/>
          <ticker value="KTOS"/>
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        <balance>12000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>356280.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hitachi Ltd</name>
        <lei>549300T6IPOCDWLKC615</lei>
        <title>Hitachi Ltd</title>
        <cusip>433578507</cusip>
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          <isin value="US4335785071"/>
          <ticker value="HTHIY"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>938000.00000000</valUSD>
        <pctVal>0.059111173559</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HCA Healthcare Inc</name>
        <lei>529900PH4ZGUH2MNEU89</lei>
        <title>HCA Healthcare Inc</title>
        <cusip>40412C101</cusip>
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          <isin value="US40412C1018"/>
          <ticker value="HCA"/>
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        <balance>100.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>34555.00000000</valUSD>
        <pctVal>0.002177597657</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Smiths Group PLC</name>
        <lei>213800MJL6IPZS3ASA11</lei>
        <title>Smiths Group PLC</title>
        <cusip>000000000</cusip>
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          <isin value="GB00B1WY2338"/>
          <ticker value="SMIN"/>
          <other otherDesc="SEDOL" value="B1WY233"/>
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        <balance>9000.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ardagh Metal Packaging SA</name>
        <lei>5493009WKQTU4FN9G032</lei>
        <title>Ardagh Metal Packaging SA</title>
        <cusip>000000000</cusip>
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          <isin value="LU2369833749"/>
          <ticker value="AMBP"/>
          <other otherDesc="SEDOL" value="BMWT6B1"/>
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        <balance>48000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>144960.00000000</valUSD>
        <pctVal>0.009135134029</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>
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      <invstOrSec>
        <name>ITT Inc</name>
        <lei>549300KDSERHTJOXUS80</lei>
        <title>ITT Inc</title>
        <cusip>45073V108</cusip>
        <identifiers>
          <isin value="US45073V1089"/>
          <ticker value="ITT"/>
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        <balance>92000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11882720.00000000</valUSD>
        <pctVal>0.748828917143</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Gilead Sciences Inc</name>
        <lei>549300WTZWR07K8MNV44</lei>
        <title>Gilead Sciences Inc</title>
        <cusip>375558103</cusip>
        <identifiers>
          <isin value="US3755581036"/>
          <ticker value="GILD"/>
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        <balance>2800.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>313740.00000000</valUSD>
        <pctVal>0.019771364171</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Genuine Parts Co</name>
        <lei>549300D46DQVEU651W04</lei>
        <title>Genuine Parts Co</title>
        <cusip>372460105</cusip>
        <identifiers>
          <isin value="US3724601055"/>
          <ticker value="GPC"/>
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        <balance>163200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19443648.00000000</valUSD>
        <pctVal>1.225305811897</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AAON Inc</name>
        <lei>N/A</lei>
        <title>AAON Inc</title>
        <cusip>000360206</cusip>
        <identifiers>
          <isin value="US0003602069"/>
          <ticker value="AAON"/>
        </identifiers>
        <balance>3000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>234390.00000000</valUSD>
        <pctVal>0.014770861375</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Genting Singapore Ltd</name>
        <lei>254900Y2N3AK93K1O866</lei>
        <title>Genting Singapore Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SGXE21576413"/>
          <ticker value="GENS"/>
          <other otherDesc="SEDOL" value="BDRTVP2"/>
        </identifiers>
        <balance>90000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.34355000"/>
        <valUSD>50240.04000000</valUSD>
        <pctVal>0.003166042349</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Flex Ltd</name>
        <lei>549300EAQH74YHD07T53</lei>
        <title>Flex Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG9999000020"/>
          <ticker value="FLEX"/>
          <other otherDesc="SEDOL" value="2353058"/>
        </identifiers>
        <balance>5000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>165400.00000000</valUSD>
        <pctVal>0.010423228258</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>3D Systems Corp</name>
        <lei>5493003HHDOCCW4OP744</lei>
        <title>3D Systems Corp</title>
        <cusip>88554D205</cusip>
        <identifiers>
          <isin value="US88554D2053"/>
          <ticker value="DDD"/>
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        <balance>20000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>42400.00000000</valUSD>
        <pctVal>0.002671976288</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Cleveland-Cliffs Inc</name>
        <lei>549300TM2WLI2BJMDD86</lei>
        <title>Cleveland-Cliffs Inc</title>
        <cusip>185899101</cusip>
        <identifiers>
          <isin value="US1858991011"/>
          <ticker value="CLF"/>
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        <balance>28000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>230160.00000000</valUSD>
        <pctVal>0.014504293930</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Kyndryl Holdings Inc</name>
        <lei>549300LQ4LWX2R8ZV130</lei>
        <title>Kyndryl Holdings Inc</title>
        <cusip>50155Q100</cusip>
        <identifiers>
          <isin value="US50155Q1004"/>
          <ticker value="KD"/>
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        <balance>8054.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>252895.60000000</valUSD>
        <pctVal>0.015937052989</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Costco Wholesale Corp</name>
        <lei>29DX7H14B9S6O3FD6V18</lei>
        <title>Costco Wholesale Corp</title>
        <cusip>22160K105</cusip>
        <identifiers>
          <isin value="US22160K1051"/>
          <ticker value="COST"/>
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        <balance>27660.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26160274.80000000</valUSD>
        <pctVal>1.648576272996</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Wyndham Hotels &amp; Resorts Inc</name>
        <lei>549300FE3MQ4RVXXC673</lei>
        <title>Wyndham Hotels &amp; Resorts Inc</title>
        <cusip>98311A105</cusip>
        <identifiers>
          <isin value="US98311A1051"/>
          <ticker value="WH"/>
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        <balance>4000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>362040.00000000</valUSD>
        <pctVal>0.022815148481</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Avio SpA</name>
        <lei>8156008F25C4B0E7C860</lei>
        <title>Avio SpA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IT0005119810"/>
          <ticker value="AVIO"/>
          <other otherDesc="SEDOL" value="BYWZZF0"/>
        </identifiers>
        <balance>10000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
        <valUSD>186416.12000000</valUSD>
        <pctVal>0.011747628596</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>W R Berkley Corp</name>
        <lei>SQOAGCLKBDWNVYV1OV80</lei>
        <title>W R Berkley Corp</title>
        <cusip>084423102</cusip>
        <identifiers>
          <isin value="US0844231029"/>
          <ticker value="WRB"/>
        </identifiers>
        <balance>37500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2668500.00000000</valUSD>
        <pctVal>0.168164356763</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Liberty Broadband Corp</name>
        <lei>549300MIX43II8JLN536</lei>
        <title>Liberty Broadband Corp</title>
        <cusip>530307107</cusip>
        <identifiers>
          <isin value="US5303071071"/>
          <ticker value="LBRDA"/>
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        <balance>16750.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1423750.00000000</valUSD>
        <pctVal>0.089722317010</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BellRing Brands Inc</name>
        <lei>549300S3BOK5CMTS8054</lei>
        <title>BellRing Brands Inc</title>
        <cusip>07831C103</cusip>
        <identifiers>
          <isin value="US07831C1036"/>
          <ticker value="BRBR"/>
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        <balance>147500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10982850.00000000</valUSD>
        <pctVal>0.692120631694</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TE Connectivity PLC</name>
        <lei>6367003TB6K484NFHE54</lei>
        <title>TE Connectivity PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE000IVNQZ81"/>
          <ticker value="TEL"/>
          <other otherDesc="SEDOL" value="BRC3N84"/>
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        <balance>33000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4663560.00000000</valUSD>
        <pctVal>0.293889663716</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Bresler &amp; Reiner Inc</name>
        <lei>N/A</lei>
        <title>Bresler &amp; Reiner Inc</title>
        <cusip>107336109</cusip>
        <identifiers>
          <isin value="US1073361099"/>
          <ticker value="BRER"/>
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        <balance>8000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>200.00000000</valUSD>
        <pctVal>0.000012603661</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Charter Communications Inc</name>
        <lei>0J0XRGZE3PBRFEZ7MV65</lei>
        <title>Charter Communications Inc</title>
        <cusip>16119P108</cusip>
        <identifiers>
          <isin value="US16119P1084"/>
          <ticker value="CHTR"/>
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        <balance>10000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3685300.00000000</valUSD>
        <pctVal>0.232241373048</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Traton SE</name>
        <lei>529900UIMQRKPFN6SV80</lei>
        <title>Traton SE</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE000TRAT0N7"/>
          <ticker value="8TRA"/>
          <other otherDesc="SEDOL" value="BKF1H51"/>
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        <balance>52000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
        <valUSD>1748678.36000000</valUSD>
        <pctVal>0.110198752705</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PAR Technology Corp</name>
        <lei>549300HYPTHBJQINVG57</lei>
        <title>PAR Technology Corp</title>
        <cusip>698884103</cusip>
        <identifiers>
          <isin value="US6988841036"/>
          <ticker value="PAR"/>
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        <balance>30000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1840200.00000000</valUSD>
        <pctVal>0.115966291667</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Lam Research Corp</name>
        <lei>549300I4GMO6D34U1T02</lei>
        <title>Lam Research Corp</title>
        <cusip>512807306</cusip>
        <identifiers>
          <isin value="US5128073062"/>
          <ticker value="LRCX"/>
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        <balance>2000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>145400.00000000</valUSD>
        <pctVal>0.009162862084</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Weyerhaeuser Co</name>
        <lei>08IRJODWFYBI7QWRGS31</lei>
        <title>Weyerhaeuser Co</title>
        <cusip>962166104</cusip>
        <identifiers>
          <isin value="US9621661043"/>
          <ticker value="WY"/>
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        <balance>9000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>263520.00000000</valUSD>
        <pctVal>0.016606584708</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GLOBALFOUNDRIES Inc</name>
        <lei>549300BA76VK784VMX48</lei>
        <title>GLOBALFOUNDRIES Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG393871085"/>
          <ticker value="GFS"/>
          <other otherDesc="SEDOL" value="BMW7F63"/>
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        <balance>2000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>73820.00000000</valUSD>
        <pctVal>0.004652011548</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Shinhan Financial Group Co Ltd</name>
        <lei>988400EB8A6G49E5KO54</lei>
        <title>Shinhan Financial Group Co Ltd</title>
        <cusip>824596100</cusip>
        <identifiers>
          <isin value="US8245961003"/>
          <ticker value="SHG"/>
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        <balance>12200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>391376.00000000</valUSD>
        <pctVal>0.024663853585</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Trane Technologies PLC</name>
        <lei>549300BURLR9SLYY2705</lei>
        <title>Trane Technologies PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE00BK9ZQ967"/>
          <ticker value="TT"/>
          <other otherDesc="SEDOL" value="BK9ZQ96"/>
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        <balance>19200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6468864.00000000</valUSD>
        <pctVal>0.407656868483</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Liberty Global Ltd</name>
        <lei>213800HRMKKTYH7SKA24</lei>
        <title>Liberty Global Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG611881274"/>
          <ticker value="LBTYK"/>
          <other otherDesc="SEDOL" value="BS71BR5"/>
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        <balance>159064.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1903996.08000000</valUSD>
        <pctVal>0.119986612731</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Affiliated Managers Group Inc</name>
        <lei>2JE75BUE3T1BLCYYGK54</lei>
        <title>Affiliated Managers Group Inc</title>
        <cusip>008252108</cusip>
        <identifiers>
          <isin value="US0082521081"/>
          <ticker value="AMG"/>
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        <balance>250.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>42007.50000000</valUSD>
        <pctVal>0.002647241602</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Operadora De Sites Mexicanos S</name>
        <lei>4469000001BRCBO8VP14</lei>
        <title>Operadora De Sites Mexicanos SAB de CV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="MX01SI0C0002"/>
          <ticker value="SITES1"/>
          <other otherDesc="SEDOL" value="BJLD2Y8"/>
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        <balance>105000.00000000</balance>
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        <currencyConditional curCd="MXN" exchangeRt="20.46450000"/>
        <valUSD>74602.36000000</valUSD>
        <pctVal>0.004701314552</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Chemed Corp</name>
        <lei>54930020031IDJT2IM79</lei>
        <title>Chemed Corp</title>
        <cusip>16359R103</cusip>
        <identifiers>
          <isin value="US16359R1032"/>
          <ticker value="CHE"/>
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        <balance>1000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>615320.00000000</valUSD>
        <pctVal>0.038776425708</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Hermes International SCA</name>
        <lei>969500Y4IJGHJE2MTJ13</lei>
        <title>Hermes International SCA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0000052292"/>
          <ticker value="RMS"/>
          <other otherDesc="SEDOL" value="5253973"/>
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        <balance>1170.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
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        <pctVal>0.192218869306</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MGM Resorts International</name>
        <lei>54930066VBP7DZEGGJ87</lei>
        <title>MGM Resorts International</title>
        <cusip>552953101</cusip>
        <identifiers>
          <isin value="US5529531015"/>
          <ticker value="MGM"/>
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        <balance>81400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2412696.00000000</valUSD>
        <pctVal>0.152044021324</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Westwood Holdings Group Inc</name>
        <lei>N/A</lei>
        <title>Westwood Holdings Group Inc</title>
        <cusip>961765104</cusip>
        <identifiers>
          <isin value="US9617651040"/>
          <ticker value="WHG"/>
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        <balance>25348.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>410637.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VICI Properties Inc</name>
        <lei>254900RKH6RY9KCJQH63</lei>
        <title>VICI Properties Inc</title>
        <cusip>925652109</cusip>
        <identifiers>
          <isin value="US9256521090"/>
          <ticker value="VICI"/>
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        <balance>23500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>766570.00000000</valUSD>
        <pctVal>0.048307944899</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ardagh Group SA</name>
        <lei>6354006L1NWUUOPYX274</lei>
        <title>Ardagh Group SA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="LU1565283667"/>
          <ticker value="ARD"/>
          <other otherDesc="SEDOL" value="BYXR9D1"/>
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        <balance>10000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>29400.00000000</valUSD>
        <pctVal>0.001852738275</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>Arista Networks Inc</name>
        <lei>635400H1WKBLOQERUU95</lei>
        <title>Arista Networks Inc</title>
        <cusip>040413205</cusip>
        <identifiers>
          <isin value="US0404132054"/>
          <ticker value="ANET"/>
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        <balance>9000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>697320.00000000</valUSD>
        <pctVal>0.043943927021</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Atmus Filtration Technologies</name>
        <lei>N/A</lei>
        <title>Atmus Filtration Technologies Inc</title>
        <cusip>04956D107</cusip>
        <identifiers>
          <isin value="US04956D1072"/>
          <ticker value="ATMU"/>
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        <balance>2500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>91825.00000000</valUSD>
        <pctVal>0.005786656196</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Moody's Corp</name>
        <lei>549300GCEDD8YCF5WU84</lei>
        <title>Moody's Corp</title>
        <cusip>615369105</cusip>
        <identifiers>
          <isin value="US6153691059"/>
          <ticker value="MCO"/>
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        <balance>9640.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4489251.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Waters Corp</name>
        <lei>5T547R1474YC9HOD8Q74</lei>
        <title>Waters Corp</title>
        <cusip>941848103</cusip>
        <identifiers>
          <isin value="US9418481035"/>
          <ticker value="WAT"/>
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        <balance>4000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1474280.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Weatherford International PLC</name>
        <lei>529900LPBDSCQDJKHQ39</lei>
        <title>Weatherford International PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE00BLNN3691"/>
          <ticker value="WFRD"/>
          <other otherDesc="SEDOL" value="BLNN369"/>
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        <balance>3300.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>176715.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>American Outdoor Brands Inc</name>
        <lei>N/A</lei>
        <title>American Outdoor Brands Inc</title>
        <cusip>02875D109</cusip>
        <identifiers>
          <isin value="US02875D1090"/>
          <ticker value="AOUT"/>
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        <balance>34180.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>415628.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sony Group Corp</name>
        <lei>529900R5WX9N2OI2N910</lei>
        <title>Sony Group Corp</title>
        <cusip>835699307</cusip>
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          <isin value="US8356993076"/>
          <ticker value="SONY"/>
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        <balance>141245.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3586210.55000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Reckitt Benckiser Group PLC</name>
        <lei>5493003JFSMOJG48V108</lei>
        <title>Reckitt Benckiser Group PLC</title>
        <cusip>000000000</cusip>
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          <isin value="GB00B24CGK77"/>
          <ticker value="RKT"/>
          <other otherDesc="SEDOL" value="B24CGK7"/>
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        <balance>49500.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TSMC</name>
        <lei>549300KB6NK5SBD14S87</lei>
        <title>Taiwan Semiconductor Manufacturing Co Ltd</title>
        <cusip>874039100</cusip>
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          <isin value="US8740391003"/>
          <ticker value="TSM"/>
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        <balance>3000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>498000.00000000</valUSD>
        <pctVal>0.031383117732</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Just Group PLC</name>
        <lei>5493006456YEZEELRR90</lei>
        <title>Just Group PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BCRX1J15"/>
          <ticker value="JUST"/>
          <other otherDesc="SEDOL" value="BCRX1J1"/>
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        <balance>900000.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Arcosa Inc</name>
        <lei>549300WFHLTCZV7D6V29</lei>
        <title>Arcosa Inc</title>
        <cusip>039653100</cusip>
        <identifiers>
          <isin value="US0396531008"/>
          <ticker value="ACA"/>
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        <balance>25500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1966560.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Liberty Media Corp-Liberty Liv</name>
        <lei>N/A</lei>
        <title>Liberty Media Corp-Liberty Live</title>
        <cusip>531229748</cusip>
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          <isin value="US5312297485"/>
          <ticker value="LLYVA"/>
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        <balance>14573.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>979888.52000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Goldman Sachs Group Inc/The</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group Inc/The</title>
        <cusip>38141G104</cusip>
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          <isin value="US38141G1040"/>
          <ticker value="GS"/>
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        <balance>5300.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2895337.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sally Beauty Holdings Inc</name>
        <lei>529900VXW6E8ONDIQ271</lei>
        <title>Sally Beauty Holdings Inc</title>
        <cusip>79546E104</cusip>
        <identifiers>
          <isin value="US79546E1047"/>
          <ticker value="SBH"/>
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        <balance>27000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>243810.00000000</valUSD>
        <pctVal>0.015364493843</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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      <invstOrSec>
        <name>VEON Ltd</name>
        <lei>5493008CA3NMHYEVT131</lei>
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      <invstOrSec>
        <name>Royce Global Trust Inc</name>
        <lei>254900MA25TE88EMIP63</lei>
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      <invstOrSec>
        <name>Blue Owl Capital Inc</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Kimbell Royalty Partners LP</name>
        <lei>5493007FC11POVYRB841</lei>
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        <cusip>49435R102</cusip>
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          <isin value="US49435R1023"/>
          <ticker value="KRP"/>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>Modine Manufacturing Co</name>
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          <isin value="US6078281002"/>
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      <invstOrSec>
        <name>TELUS Corp</name>
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      <invstOrSec>
        <name>Waste Management Inc</name>
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      <invstOrSec>
        <name>Telephone and Data Systems Inc</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Dana Inc</name>
        <lei>KVWHW7YLZPFJM8QYNJ51</lei>
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        <name>Flushing Financial Corp</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Genius Sports Ltd</name>
        <lei>N/A</lei>
        <title>Genius Sports Ltd</title>
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        <invCountry>GB</invCountry>
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        <name>Corning Inc</name>
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        <name>AMC NETWORKS INC</name>
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        <name>Hershey Co/The</name>
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        <name>Arthur J Gallagher &amp; Co</name>
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        <name>Credit Agricole SA</name>
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        <name>Amazon.com Inc</name>
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        <name>UnitedHealth Group Inc</name>
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        <name>PSI Software SE</name>
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        <name>Harley-Davidson Inc</name>
        <lei>ZDNAWZWXIKMWI51R2A08</lei>
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        <name>Christian Dior SE</name>
        <lei>969500WESYQMQ1F2C272</lei>
        <title>Christian Dior SE</title>
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      <invstOrSec>
        <name>PG&amp;E Corp</name>
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        <valUSD>257700.00000000</valUSD>
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      <invstOrSec>
        <name>Janus Henderson Group PLC</name>
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          <ticker value="JHG"/>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
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      <invstOrSec>
        <name>Fortune Brands Innovations Inc</name>
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        <title>Fortune Brands Innovations Inc</title>
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          <isin value="US34964C1062"/>
          <ticker value="FBIN"/>
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      <invstOrSec>
        <name>Liberty Global Ltd</name>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
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      <invstOrSec>
        <name>Sanofi SA</name>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Siemens AG</name>
        <lei>W38RGI023J3WT1HWRP32</lei>
        <title>Siemens AG</title>
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          <isin value="DE0007236101"/>
          <ticker value="SIE"/>
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        <assetCat>EC</assetCat>
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        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>nLight Inc</name>
        <lei>N/A</lei>
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          <isin value="US65487K1007"/>
          <ticker value="LASR"/>
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        <curCd>USD</curCd>
        <valUSD>23310.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Vitesse Energy Inc</name>
        <lei>N/A</lei>
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          <isin value="US92852X1037"/>
          <ticker value="VTS"/>
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        <balance>31050.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>763519.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Howmet Aerospace Inc</name>
        <lei>549300HO5WFZUT5N2T22</lei>
        <title>Howmet Aerospace Inc</title>
        <cusip>443201108</cusip>
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          <isin value="US4432011082"/>
          <ticker value="HWM"/>
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        <balance>1000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>129730.00000000</valUSD>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Occidental Petroleum Corp</name>
        <lei>IM7X0T3ECJW4C1T7ON55</lei>
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          <ticker value="OXY"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>493600.00000000</valUSD>
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        <assetCat>EC</assetCat>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Republic Services Inc</name>
        <lei>NKNQHM6BLECKVOQP7O46</lei>
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          <isin value="US7607591002"/>
          <ticker value="RSG"/>
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        <balance>178200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>43152912.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>3M Co</name>
        <lei>LUZQVYP4VS22CLWDAR65</lei>
        <title>3M Co</title>
        <cusip>88579Y101</cusip>
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          <isin value="US88579Y1010"/>
          <ticker value="MMM"/>
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        <balance>3000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>440580.00000000</valUSD>
        <pctVal>0.027764606446</pctVal>
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        <assetCat>EC</assetCat>
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        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>Deutsche Bank AG</title>
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        <curCd>USD</curCd>
        <valUSD>714900.00000000</valUSD>
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        <invCountry>DE</invCountry>
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      <invstOrSec>
        <name>Phinia Inc</name>
        <lei>254900HG6MORZE1FFM18</lei>
        <title>Phinia Inc</title>
        <cusip>71880K101</cusip>
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          <ticker value="PHIN"/>
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        <balance>9200.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>390356.00000000</valUSD>
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        <name>Koninklijke KPN NV</name>
        <lei>549300YO0JZHAL7FVP81</lei>
        <title>Koninklijke KPN NV</title>
        <cusip>000000000</cusip>
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        <invCountry>NL</invCountry>
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        <name>DSM-Firmenich AG</name>
        <lei>506700G44V67MPM4BI12</lei>
        <title>DSM-Firmenich AG</title>
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        <assetCat>EC</assetCat>
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        <invCountry>CH</invCountry>
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        <name>Verizon Communications Inc</name>
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        <name>Telefonica Brasil SA</name>
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        <title>Telefonica Brasil SA</title>
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        <name>Zurn Elkay Water Solutions Cor</name>
        <lei>549300AM3633XDFU1Q85</lei>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <name>Fomento Economico Mexicano SAB</name>
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        <title>Fomento Economico Mexicano SAB de CV</title>
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          <ticker value="FMX"/>
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      <invstOrSec>
        <name>NN Group NV</name>
        <lei>724500OHYNDT9OY6Q215</lei>
        <title>NN Group NV</title>
        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>NL</invCountry>
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      <invstOrSec>
        <name>Tyson Foods Inc</name>
        <lei>WD6L6041MNRW1JE49D58</lei>
        <title>Tyson Foods Inc</title>
        <cusip>902494103</cusip>
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          <ticker value="TSN"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Bel Fuse Inc</name>
        <lei>2549009L4XYDBRRY6X39</lei>
        <title>Bel Fuse Inc</title>
        <cusip>077347300</cusip>
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          <ticker value="BELFB"/>
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        <curCd>USD</curCd>
        <valUSD>229371.04000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Brink's Co/The</name>
        <lei>XFP140TFNOQMIVFTVQ13</lei>
        <title>Brink's Co/The</title>
        <cusip>109696104</cusip>
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          <isin value="US1096961040"/>
          <ticker value="BCO"/>
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        <balance>12000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1033920.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Oceaneering International Inc</name>
        <lei>549300L6PH74701W0R30</lei>
        <title>Oceaneering International Inc</title>
        <cusip>675232102</cusip>
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          <isin value="US6752321025"/>
          <ticker value="OII"/>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1199550.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CTS Corp</name>
        <lei>549300YV1HQLBVHOI649</lei>
        <title>CTS Corp</title>
        <cusip>126501105</cusip>
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          <isin value="US1265011056"/>
          <ticker value="CTS"/>
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        <balance>2000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>83100.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>IAC Inc</name>
        <lei>549300TO56L57RP6P031</lei>
        <title>IAC Inc</title>
        <cusip>44891N208</cusip>
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          <isin value="US44891N2080"/>
          <ticker value="IAC"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1607900.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NVIDIA Corp</name>
        <lei>549300S4KLFTLO7GSQ80</lei>
        <title>NVIDIA Corp</title>
        <cusip>67066G104</cusip>
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          <isin value="US67066G1040"/>
          <ticker value="NVDA"/>
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        <balance>7065.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>765704.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>National Fuel Gas Co</name>
        <lei>8JB38FFW1Y3C1HM8E841</lei>
        <title>National Fuel Gas Co</title>
        <cusip>636180101</cusip>
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          <isin value="US6361801011"/>
          <ticker value="NFG"/>
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        <balance>123000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9740370.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Simon Property Group Inc</name>
        <lei>529900GQL5X8H7AO3T64</lei>
        <title>Simon Property Group Inc</title>
        <cusip>828806109</cusip>
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          <isin value="US8288061091"/>
          <ticker value="SPG"/>
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        <balance>1000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>166080.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Coca-Cola Co/The</name>
        <lei>UWJKFUJFZ02DKWI3RY53</lei>
        <title>Coca-Cola Co/The</title>
        <cusip>191216100</cusip>
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          <isin value="US1912161007"/>
          <ticker value="KO"/>
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        <balance>60000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4297200.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Zosano Pharma Corp</name>
        <lei>5493006NX8EN835MNW49</lei>
        <title>Zosano Pharma Corp</title>
        <cusip>98979H301</cusip>
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          <isin value="US98979H3012"/>
          <ticker value="ZSANQ"/>
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        <balance>608.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>0.12000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BBVA</name>
        <lei>K8MS7FD7N5Z2WQ51AZ71</lei>
        <title>Banco Bilbao Vizcaya Argentaria SA</title>
        <cusip>000000000</cusip>
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          <isin value="ES0113211835"/>
          <ticker value="BBVA"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Edgewell Personal Care Co</name>
        <lei>549300CY8QZDL4Z3RU59</lei>
        <title>Edgewell Personal Care Co</title>
        <cusip>28035Q102</cusip>
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          <isin value="US28035Q1022"/>
          <ticker value="EPC"/>
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        <balance>145000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4525450.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>QVC GROUP INC</name>
        <lei>549300PSXEKU4PHLCR04</lei>
        <title>QVC Group Inc</title>
        <cusip>74915M308</cusip>
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          <isin value="US74915M3088"/>
          <ticker value="QVCGA"/>
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        <balance>54250.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1400192.50000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DAH SING</name>
        <lei>529900J55QMXMR5KMH32</lei>
        <title>Dah Sing Financial Holdings Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="HK0440001847"/>
          <ticker value="440"/>
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        <assetCat>EC</assetCat>
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        <invCountry>HK</invCountry>
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      <invstOrSec>
        <name>DoorDash Inc</name>
        <lei>549300NUQ43FGGSK5051</lei>
        <title>DoorDash Inc</title>
        <cusip>25809K105</cusip>
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          <isin value="US25809K1051"/>
          <ticker value="DASH"/>
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        <valUSD>19190.85000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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        <name>TBS Holdings Inc</name>
        <lei>N/A</lei>
        <title>TBS Holdings Inc</title>
        <cusip>000000000</cusip>
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          <isin value="JP3588600001"/>
          <ticker value="9401"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <name>Apple Inc</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>Apple Inc</title>
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        <name>Sempra</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>Sempra</title>
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          <ticker value="SRE"/>
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        <valUSD>356800.00000000</valUSD>
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      <invstOrSec>
        <name>Atlanta Braves Holdings Inc</name>
        <lei>N/A</lei>
        <title>Atlanta Braves Holdings Inc</title>
        <cusip>047726104</cusip>
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          <ticker value="BATRA"/>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>Liberty Media Corp-Liberty Liv</name>
        <lei>N/A</lei>
        <title>Liberty Media Corp-Liberty Live</title>
        <cusip>531229722</cusip>
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          <ticker value="LLYVK"/>
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        <name>AMETEK Inc</name>
        <lei>549300WZDEF9KKE40E98</lei>
        <title>AMETEK Inc</title>
        <cusip>031100100</cusip>
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          <isin value="US0311001004"/>
          <ticker value="AME"/>
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        <balance>309200.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Macy's Inc</name>
        <lei>529900NZQ81TIOW3CW52</lei>
        <title>Macy's Inc</title>
        <cusip>55616P104</cusip>
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          <isin value="US55616P1049"/>
          <ticker value="M"/>
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        <balance>95000.00000000</balance>
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        <valUSD>1193200.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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        <name>AAR Corp</name>
        <lei>MP76T5YQX3YK5VVAQ802</lei>
        <title>AAR Corp</title>
        <cusip>000361105</cusip>
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          <isin value="US0003611052"/>
          <ticker value="AIR"/>
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        <valUSD>223960.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Smith &amp; Nephew PLC</name>
        <lei>213800ZTMDN8S67S1H61</lei>
        <title>Smith &amp; Nephew PLC</title>
        <cusip>000000000</cusip>
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          <isin value="GB0009223206"/>
          <ticker value="SN/"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Freeport-McMoRan Inc</name>
        <lei>549300IRDTHJQ1PVET45</lei>
        <title>Freeport-McMoRan Inc</title>
        <cusip>35671D857</cusip>
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      <invstOrSec>
        <name>Sinclair Inc</name>
        <lei>N/A</lei>
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        <name>Nestle SA</name>
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        <name>Eversource Energy</name>
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        <name>Deutsche Telekom AG</name>
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      <invstOrSec>
        <name>ConocoPhillips</name>
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          <ticker value="COP"/>
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        <name>Citigroup Inc</name>
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      <invstOrSec>
        <name>Essity AB</name>
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          <isin value="SE0009922164"/>
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      <invstOrSec>
        <name>Vale SA</name>
        <lei>254900SMTWBX7RU2SR20</lei>
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          <ticker value="VALE"/>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>CRH PLC</name>
        <lei>549300MIDJNNTH068E74</lei>
        <title>CRH PLC</title>
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      <invstOrSec>
        <name>Myers Industries Inc</name>
        <lei>549300I2H9XMVTCW4Q51</lei>
        <title>Myers Industries Inc</title>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>Walmart Inc</name>
        <lei>Y87794H0US1R65VBXU25</lei>
        <title>Walmart Inc</title>
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        <curCd>USD</curCd>
        <valUSD>7901100.00000000</valUSD>
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      <invstOrSec>
        <name>OCCIDENTAL PETROLEUM CORP</name>
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        <title>Occidental Petroleum Corp</title>
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          <ticker value="OXY/WS"/>
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        <curCd>USD</curCd>
        <valUSD>69285.68000000</valUSD>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>Shake Shack Inc</name>
        <lei>529900J74GJAHYP80N79</lei>
        <title>Shake Shack Inc</title>
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          <ticker value="SHAK"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>Heineken NV</name>
        <lei>724500K5PTPSST86UQ23</lei>
        <title>Heineken NV</title>
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      <invstOrSec>
        <name>Liberty Media Corp-Liberty For</name>
        <lei>N/A</lei>
        <title>Liberty Media Corp-Liberty Formula One</title>
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          <ticker value="FWONA"/>
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      <invstOrSec>
        <name>Peapack-Gladstone Financial Co</name>
        <lei>549300G8DN2UK8K0ET30</lei>
        <title>Peapack-Gladstone Financial Corp</title>
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        <name>BioMarin Pharmaceutical Inc</name>
        <lei>NSLL8ITTRR0J5HEMR848</lei>
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        <name>Mettler-Toledo International I</name>
        <lei>5493000BD5GJNUDIUG10</lei>
        <title>Mettler-Toledo International Inc</title>
        <cusip>592688105</cusip>
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          <ticker value="MTD"/>
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      <invstOrSec>
        <name>Maple Leaf Foods Inc</name>
        <lei>549300LX07S5J8F76F37</lei>
        <title>Maple Leaf Foods Inc</title>
        <cusip>564905107</cusip>
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          <ticker value="MFI"/>
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        <invCountry>CA</invCountry>
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      <invstOrSec>
        <name>Universal Display Corp</name>
        <lei>N/A</lei>
        <title>Universal Display Corp</title>
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        <name>EW Scripps Co/The</name>
        <lei>549300U1OW41QPKYW028</lei>
        <title>EW Scripps Co/The</title>
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          <ticker value="SSP"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <name>Edenred SE</name>
        <lei>9695006LOD5B2D7Y0N70</lei>
        <title>Edenred SE</title>
        <cusip>000000000</cusip>
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          <isin value="FR0010908533"/>
          <ticker value="EDEN"/>
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        <invCountry>FR</invCountry>
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        <name>Corus Entertainment Inc</name>
        <lei>549300DVZFTUMM4M2O84</lei>
        <title>Corus Entertainment Inc</title>
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          <ticker value="CJREF"/>
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        <curCd>USD</curCd>
        <valUSD>1700.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Cencora Inc</name>
        <lei>AI8GXW8LG5WK7E9UD086</lei>
        <title>Cencora Inc</title>
        <cusip>03073E105</cusip>
        <identifiers>
          <isin value="US03073E1055"/>
          <ticker value="COR"/>
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        <balance>6365.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1770042.85000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CVS Group PLC</name>
        <lei>213800J41XDQ2NX48O05</lei>
        <title>CVS Group PLC</title>
        <cusip>000000000</cusip>
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          <isin value="GB00B2863827"/>
          <ticker value="CVSG"/>
          <other otherDesc="SEDOL" value="B286382"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NETGEAR Inc</name>
        <lei>54930067KX3UNRHDWA78</lei>
        <title>NETGEAR Inc</title>
        <cusip>64111Q104</cusip>
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          <isin value="US64111Q1040"/>
          <ticker value="NTGR"/>
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        <balance>3000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>73380.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SGL Carbon SE</name>
        <lei>52990038IB31TYK07X63</lei>
        <title>SGL Carbon SE</title>
        <cusip>000000000</cusip>
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          <isin value="DE0007235301"/>
          <ticker value="SGL"/>
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        <balance>13000.00000000</balance>
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        <pctVal>0.002980858638</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Karman Holdings Inc</name>
        <lei>N/A</lei>
        <title>Karman Holdings Inc</title>
        <cusip>485924104</cusip>
        <identifiers>
          <isin value="US4859241048"/>
          <ticker value="KRMN"/>
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        <balance>200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6684.00000000</valUSD>
        <pctVal>0.000421214375</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AdvanSix Inc</name>
        <lei>5493009TPRODMCAZLF67</lei>
        <title>AdvanSix Inc</title>
        <cusip>00773T101</cusip>
        <identifiers>
          <isin value="US00773T1016"/>
          <ticker value="ASIX"/>
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        <balance>8000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>181200.00000000</valUSD>
        <pctVal>0.011418917536</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HP Inc</name>
        <lei>WHKXQACZ14C5XRO8LW03</lei>
        <title>HP Inc</title>
        <cusip>40434L105</cusip>
        <identifiers>
          <isin value="US40434L1052"/>
          <ticker value="HPQ"/>
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        <balance>5500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>152295.00000000</valUSD>
        <pctVal>0.009597373323</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Ibstock PLC</name>
        <lei>2138003QHTNX34CN9V93</lei>
        <title>Ibstock PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BYXJC278"/>
          <ticker value="IBST"/>
          <other otherDesc="SEDOL" value="BYXJC27"/>
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        <balance>35200.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.77414360"/>
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        <pctVal>0.004876940276</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>News Corp</name>
        <lei>549300ITS31QK8VRBQ14</lei>
        <title>News Corp</title>
        <cusip>65249B208</cusip>
        <identifiers>
          <isin value="US65249B2088"/>
          <ticker value="NWS"/>
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        <balance>82000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2490340.00000000</valUSD>
        <pctVal>0.156937014885</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Pentair PLC</name>
        <lei>549300EVR9D56WPSRP15</lei>
        <title>Pentair PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE00BLS09M33"/>
          <ticker value="PNR"/>
          <other otherDesc="SEDOL" value="BLS09M3"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2624400.00000000</valUSD>
        <pctVal>0.165385249349</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Las Vegas Sands Corp</name>
        <lei>549300DUOO1KXOHPM605</lei>
        <title>Las Vegas Sands Corp</title>
        <cusip>517834107</cusip>
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          <isin value="US5178341070"/>
          <ticker value="LVS"/>
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        <balance>7000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>270410.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Phillips 66</name>
        <lei>5493005JBO5YSIGK1814</lei>
        <title>Phillips 66</title>
        <cusip>718546104</cusip>
        <identifiers>
          <isin value="US7185461040"/>
          <ticker value="PSX"/>
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        <balance>9000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1111320.00000000</valUSD>
        <pctVal>0.070033506823</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ServiceNow Inc</name>
        <lei>549300HJTQM36M0E1G39</lei>
        <title>ServiceNow Inc</title>
        <cusip>81762P102</cusip>
        <identifiers>
          <isin value="US81762P1021"/>
          <ticker value="NOW"/>
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        <balance>251.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>199831.14000000</valUSD>
        <pctVal>0.012593020468</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Gencor Industries Inc</name>
        <lei>N/A</lei>
        <title>Gencor Industries Inc</title>
        <cusip>368678108</cusip>
        <identifiers>
          <isin value="US3686781085"/>
          <ticker value="GENC"/>
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        <balance>35400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>430464.00000000</valUSD>
        <pctVal>0.027127113235</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Willdan Group Inc</name>
        <lei>529900YQO0LF5VAEKN05</lei>
        <title>Willdan Group Inc</title>
        <cusip>96924N100</cusip>
        <identifiers>
          <isin value="US96924N1000"/>
          <ticker value="WLDN"/>
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        <balance>5000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>203600.00000000</valUSD>
        <pctVal>0.012830527651</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>First Citizens BancShares Inc/</name>
        <lei>549300N3Z00ZHE2XC526</lei>
        <title>First Citizens BancShares Inc/NC</title>
        <cusip>31946M103</cusip>
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          <isin value="US31946M1036"/>
          <ticker value="FCNCA"/>
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        <balance>217.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>402344.04000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>E-L Financial Corp Ltd</name>
        <lei>5493008YS2NMV2UCI287</lei>
        <title>E-L Financial Corp Ltd</title>
        <cusip>268575107</cusip>
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          <isin value="CA2685751075"/>
          <ticker value="ELF"/>
          <other otherDesc="SEDOL" value="2306386"/>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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      <invstOrSec>
        <name>New Hope Corp Ltd</name>
        <lei>254900DHRUGXZSLSNZ83</lei>
        <title>New Hope Corp Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000NHC7"/>
          <ticker value="NHC"/>
          <other otherDesc="SEDOL" value="6681960"/>
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        <assetCat>EC</assetCat>
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        <invCountry>AU</invCountry>
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      <invstOrSec>
        <name>Hanesbrands Inc</name>
        <lei>GX5LWVWZLL5S4W1L2F20</lei>
        <title>Hanesbrands Inc</title>
        <cusip>410345102</cusip>
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          <isin value="US4103451021"/>
          <ticker value="HBI"/>
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        <balance>54000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>311580.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Newmont Corp</name>
        <lei>549300VSP3RIX7FGDZ51</lei>
        <title>Newmont Corp</title>
        <cusip>651639106</cusip>
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          <isin value="US6516391066"/>
          <ticker value="NEM"/>
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        <balance>117000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5648760.00000000</valUSD>
        <pctVal>0.355975301446</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Capital One Financial Corp</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp</title>
        <cusip>14040H105</cusip>
        <identifiers>
          <isin value="US14040H1059"/>
          <ticker value="COF"/>
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        <balance>1370.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>245641.00000000</valUSD>
        <pctVal>0.015479880367</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Crane Co</name>
        <lei>5493000CQRQOTHUODL75</lei>
        <title>Crane Co</title>
        <cusip>224408104</cusip>
        <identifiers>
          <isin value="US2244081046"/>
          <ticker value="CR"/>
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        <balance>155100.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>23758218.00000000</valUSD>
        <pctVal>1.497202716061</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CVS Health Corp</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS Health Corp</title>
        <cusip>126650100</cusip>
        <identifiers>
          <isin value="US1266501006"/>
          <ticker value="CVS"/>
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        <balance>61500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4166625.00000000</valUSD>
        <pctVal>0.262573660482</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Baker Hughes Co</name>
        <lei>N/A</lei>
        <title>Baker Hughes Co</title>
        <cusip>05722G100</cusip>
        <identifiers>
          <isin value="US05722G1004"/>
          <ticker value="BKR"/>
        </identifiers>
        <balance>40000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1758000.00000000</valUSD>
        <pctVal>0.110786186692</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Agnico Eagle Mines Ltd</name>
        <lei>254900BFJ2DOHPMEXN45</lei>
        <title>Agnico Eagle Mines Ltd</title>
        <cusip>008474108</cusip>
        <identifiers>
          <isin value="CA0084741085"/>
          <ticker value="AEM"/>
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        <balance>32000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3469120.00000000</valUSD>
        <pctVal>0.218618075073</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Xylem Inc/NY</name>
        <lei>549300DF5MV96DRYLQ48</lei>
        <title>Xylem Inc/NY</title>
        <cusip>98419M100</cusip>
        <identifiers>
          <isin value="US98419M1009"/>
          <ticker value="XYL"/>
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        <balance>128700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15374502.00000000</valUSD>
        <pctVal>0.968875113128</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Remy Cointreau SA</name>
        <lei>5493004V6A3Z027YT216</lei>
        <title>Remy Cointreau SA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0000130395"/>
          <ticker value="RCO"/>
          <other otherDesc="SEDOL" value="4741714"/>
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        <balance>40000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
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        <pctVal>0.117585312681</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Broadcom Inc</name>
        <lei>549300WV6GIDOZJTV909</lei>
        <title>Broadcom Inc</title>
        <cusip>11135F101</cusip>
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          <isin value="US11135F1012"/>
          <ticker value="AVGO"/>
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        <balance>6450.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1079923.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Strattec Security Corp</name>
        <lei>549300Z394OP8S8TSR40</lei>
        <title>Strattec Security Corp</title>
        <cusip>863111100</cusip>
        <identifiers>
          <isin value="US8631111007"/>
          <ticker value="STRT"/>
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        <balance>27600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1089096.00000000</valUSD>
        <pctVal>0.068632987930</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Intuitive Surgical Inc</name>
        <lei>54930052SRG011710797</lei>
        <title>Intuitive Surgical Inc</title>
        <cusip>46120E602</cusip>
        <identifiers>
          <isin value="US46120E6023"/>
          <ticker value="ISRG"/>
        </identifiers>
        <balance>555.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>274874.85000000</valUSD>
        <pctVal>0.017322148150</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Trinity Industries Inc</name>
        <lei>R1JB4KXN77XFCXOQKV49</lei>
        <title>Trinity Industries Inc</title>
        <cusip>896522109</cusip>
        <identifiers>
          <isin value="US8965221091"/>
          <ticker value="TRN"/>
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        <balance>84000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2357040.00000000</valUSD>
        <pctVal>0.148536674335</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
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      <invstOrSec>
        <name>Sirius XM Holdings Inc</name>
        <lei>54930055RWDMVXAGZK98</lei>
        <title>Sirius XM Holdings Inc</title>
        <cusip>829933100</cusip>
        <identifiers>
          <isin value="US8299331004"/>
          <ticker value="SIRI"/>
        </identifiers>
        <balance>143974.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3245893.83000000</valUSD>
        <pctVal>0.204550739382</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Svenska Cellulosa AB SCA</name>
        <lei>549300FW5JDRV1IJ0M67</lei>
        <title>Svenska Cellulosa AB SCA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0000112724"/>
          <ticker value="SCAB"/>
          <other otherDesc="SEDOL" value="B1VVGZ5"/>
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        <balance>27600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="10.05180000"/>
        <valUSD>363128.99000000</valUSD>
        <pctVal>0.022883774789</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Aptiv PLC</name>
        <lei>N/A</lei>
        <title>Aptiv PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JE00BTDN8H13"/>
          <ticker value="APTV"/>
          <other otherDesc="SEDOL" value="BTDN8H1"/>
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        <balance>7500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>446250.00000000</valUSD>
        <pctVal>0.028121920256</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Astronics Corp</name>
        <lei>549300NNXCF8H4MSMK17</lei>
        <title>Astronics Corp</title>
        <cusip>046433108</cusip>
        <identifiers>
          <isin value="US0464331083"/>
          <ticker value="ATRO"/>
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        <balance>30000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>725100.00000000</valUSD>
        <pctVal>0.045694575637</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sandoz Group AG</name>
        <lei>5493000JWK6XWFEUD320</lei>
        <title>Sandoz Group AG</title>
        <cusip>799926100</cusip>
        <identifiers>
          <isin value="US7999261008"/>
          <ticker value="SDZNY"/>
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        <balance>15500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>649760.00000000</valUSD>
        <pctVal>0.040946776260</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Liberty Media Corp-Liberty For</name>
        <lei>N/A</lei>
        <title>Liberty Media Corp-Liberty Formula One</title>
        <cusip>531229755</cusip>
        <identifiers>
          <isin value="US5312297550"/>
          <ticker value="FWONK"/>
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        <balance>36250.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3262862.50000000</valUSD>
        <pctVal>0.205620076267</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Casey's General Stores Inc</name>
        <lei>549300CAFWSI86V66Q65</lei>
        <title>Casey's General Stores Inc</title>
        <cusip>147528103</cusip>
        <identifiers>
          <isin value="US1475281036"/>
          <ticker value="CASY"/>
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        <balance>7000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3038280.00000000</valUSD>
        <pctVal>0.191467266953</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Federal Signal Corp</name>
        <lei>549300RTXZRPTNP6G884</lei>
        <title>Federal Signal Corp</title>
        <cusip>313855108</cusip>
        <identifiers>
          <isin value="US3138551086"/>
          <ticker value="FSS"/>
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        <balance>18000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1323900.00000000</valUSD>
        <pctVal>0.083429938886</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Louis Hachette Group</name>
        <lei>969500CV8XQ2XKU2DO25</lei>
        <title>Louis Hachette Group</title>
        <cusip>000000000</cusip>
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          <isin value="FR001400TL40"/>
          <ticker value="ALHG"/>
          <other otherDesc="SEDOL" value="BM8X1W3"/>
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        <balance>344000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
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        <pctVal>0.032383387810</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Tejon Ranch Co</name>
        <lei>549300TMNDO77VJ6J111</lei>
        <title>Tejon Ranch Co</title>
        <cusip>879080109</cusip>
        <identifiers>
          <isin value="US8790801091"/>
          <ticker value="TRC"/>
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        <balance>12000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>190200.00000000</valUSD>
        <pctVal>0.011986082314</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Loews Corp</name>
        <lei>R8V1FN4M5ITGZOG7BS19</lei>
        <title>Loews Corp</title>
        <cusip>540424108</cusip>
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          <isin value="US5404241086"/>
          <ticker value="L"/>
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        <balance>13000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1194830.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Vimeo Inc</name>
        <lei>25490061AWYWC90UIJ68</lei>
        <title>Vimeo Inc</title>
        <cusip>92719V100</cusip>
        <identifiers>
          <isin value="US92719V1008"/>
          <ticker value="VMEO"/>
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        <balance>20800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>109408.00000000</valUSD>
        <pctVal>0.006894707118</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Stryker Corp</name>
        <lei>5493002F0SC4JTBU5137</lei>
        <title>Stryker Corp</title>
        <cusip>863667101</cusip>
        <identifiers>
          <isin value="US8636671013"/>
          <ticker value="SYK"/>
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        <balance>690.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>256852.50000000</valUSD>
        <pctVal>0.016186410135</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Silvercrest Asset Management G</name>
        <lei>N/A</lei>
        <title>Silvercrest Asset Management Group Inc</title>
        <cusip>828359109</cusip>
        <identifiers>
          <isin value="US8283591092"/>
          <ticker value="SAMG"/>
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        <balance>1100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17996.00000000</valUSD>
        <pctVal>0.001134077483</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FactSet Research Systems Inc</name>
        <lei>549300ZSJE7NBK6K9P30</lei>
        <title>FactSet Research Systems Inc</title>
        <cusip>303075105</cusip>
        <identifiers>
          <isin value="US3030751057"/>
          <ticker value="FDS"/>
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        <balance>6500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2955160.00000000</valUSD>
        <pctVal>0.186229185134</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Lockheed Martin Corp</name>
        <lei>DPRBOZP0K5RM2YE8UU08</lei>
        <title>Lockheed Martin Corp</title>
        <cusip>539830109</cusip>
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          <isin value="US5398301094"/>
          <ticker value="LMT"/>
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        <balance>1000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>446710.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Daimler Truck Holding AG</name>
        <lei>529900PW78JIYOUBSR24</lei>
        <title>Daimler Truck Holding AG</title>
        <cusip>000000000</cusip>
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          <isin value="DE000DTR0CK8"/>
          <ticker value="DTG"/>
          <other otherDesc="SEDOL" value="BP6VLQ4"/>
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        <balance>19150.00000000</balance>
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        <pctVal>0.048438389017</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KKR &amp; Co Inc</name>
        <lei>54930013V5I303TF9571</lei>
        <title>KKR &amp; Co Inc</title>
        <cusip>48251W104</cusip>
        <identifiers>
          <isin value="US48251W1045"/>
          <ticker value="KKR"/>
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        <balance>8190.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>946845.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Knife River Corp</name>
        <lei>N/A</lei>
        <title>Knife River Corp</title>
        <cusip>498894104</cusip>
        <identifiers>
          <isin value="US4988941047"/>
          <ticker value="KNF"/>
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        <balance>29000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2616090.00000000</valUSD>
        <pctVal>0.164861567204</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Hyatt Hotels Corp</name>
        <lei>T27JQIMTYSH41TCD5186</lei>
        <title>Hyatt Hotels Corp</title>
        <cusip>448579102</cusip>
        <identifiers>
          <isin value="US4485791028"/>
          <ticker value="H"/>
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        <balance>6500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>796250.00000000</valUSD>
        <pctVal>0.050178328301</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Julius Baer Group Ltd</name>
        <lei>5299007MF0604ZGJER92</lei>
        <title>Julius Baer Group Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CH0102484968"/>
          <ticker value="BAER"/>
          <other otherDesc="SEDOL" value="B4R2R50"/>
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        <balance>6000.00000000</balance>
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        <pctVal>0.025942430160</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Stellantis NV</name>
        <lei>549300LKT9PW7ZIBDF31</lei>
        <title>Stellantis NV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL00150001Q9"/>
          <ticker value="STLA"/>
          <other otherDesc="SEDOL" value="BM9RCN2"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>280250.00000000</valUSD>
        <pctVal>0.017660881012</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Arko Corp</name>
        <lei>N/A</lei>
        <title>Arko Corp</title>
        <cusip>041242108</cusip>
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          <isin value="US0412421085"/>
          <ticker value="ARKO"/>
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        <balance>205000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>809750.00000000</valUSD>
        <pctVal>0.051029075468</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MKS Instruments Inc</name>
        <lei>549300KEQATBHAGVF505</lei>
        <title>MKS Instruments Inc</title>
        <cusip>55306N104</cusip>
        <identifiers>
          <isin value="US55306N1046"/>
          <ticker value="MKSI"/>
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        <balance>12000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>961800.00000000</valUSD>
        <pctVal>0.060611009306</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UL Solutions Inc</name>
        <lei>549300F7CUV5ESKV9P71</lei>
        <title>UL Solutions Inc</title>
        <cusip>903731107</cusip>
        <identifiers>
          <isin value="US9037311076"/>
          <ticker value="ULS"/>
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        <balance>29000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1635600.00000000</valUSD>
        <pctVal>0.103072745708</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Kinnevik AB</name>
        <lei>2138006PZH76JOS6MN27</lei>
        <title>Kinnevik AB</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SE0022060513"/>
          <ticker value="KINVA"/>
          <other otherDesc="SEDOL" value="BRDY7L7"/>
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        <balance>27200.00000000</balance>
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        <currencyConditional curCd="SEK" exchangeRt="10.05180000"/>
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        <pctVal>0.012653064312</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>America Movil SAB de CV</name>
        <lei>5493000FNR3UCEAONM59</lei>
        <title>America Movil SAB de CV</title>
        <cusip>02390A101</cusip>
        <identifiers>
          <isin value="US02390A1016"/>
          <ticker value="AMX"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1422000.00000000</valUSD>
        <pctVal>0.089612034969</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Atlanta Braves Holdings Inc</name>
        <lei>N/A</lei>
        <title>Atlanta Braves Holdings Inc</title>
        <cusip>047726302</cusip>
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          <isin value="US0477263026"/>
          <ticker value="BATRK"/>
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        <balance>269162.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10769171.62000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Rollins Inc</name>
        <lei>549300F2A0BXT4SGWD84</lei>
        <title>Rollins Inc</title>
        <cusip>775711104</cusip>
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          <isin value="US7757111049"/>
          <ticker value="ROL"/>
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        <balance>880000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>47546400.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Madison Square Garden Sports C</name>
        <lei>N/A</lei>
        <title>Madison Square Garden Sports Corp</title>
        <cusip>55825T103</cusip>
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          <isin value="US55825T1034"/>
          <ticker value="MSGS"/>
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        <balance>95767.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>18647750.24000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Exxon Mobil Corp</name>
        <lei>J3WHBG0MTS7O8ZVMDC91</lei>
        <title>Exxon Mobil Corp</title>
        <cusip>30231G102</cusip>
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          <isin value="US30231G1022"/>
          <ticker value="XOM"/>
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        <balance>38600.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4590698.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Treatt PLC</name>
        <lei>213800G4OJM9F7G9LG39</lei>
        <title>Treatt PLC</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BKS7YK08"/>
          <ticker value="TET"/>
          <other otherDesc="SEDOL" value="BKS7YK0"/>
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        <balance>12500.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TXNM Energy Inc</name>
        <lei>5493003JOBJGLZSDDQ28</lei>
        <title>TXNM Energy Inc</title>
        <cusip>69349H107</cusip>
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          <isin value="US69349H1077"/>
          <ticker value="TXNM"/>
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        <balance>37500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2005500.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Paramount Global</name>
        <lei>5KYC8KF17ROCY24M3H09</lei>
        <title>Paramount Global</title>
        <cusip>92556H107</cusip>
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          <isin value="US92556H1077"/>
          <ticker value="PARAA"/>
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        <balance>356000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8099000.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Molson Coors Beverage Co</name>
        <lei>54930073LBBH6ZCBE225</lei>
        <title>Molson Coors Beverage Co</title>
        <cusip>60871R209</cusip>
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          <isin value="US60871R2094"/>
          <ticker value="TAP"/>
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        <balance>62000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3773940.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Stratasys Ltd</name>
        <lei>529900MU215GIP9SZ741</lei>
        <title>Stratasys Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="IL0011267213"/>
          <ticker value="SSYS"/>
          <other otherDesc="SEDOL" value="B7WD7D7"/>
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        <balance>15307.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Clear Channel Outdoor Holdings</name>
        <lei>N/A</lei>
        <title>Clear Channel Outdoor Holdings Inc</title>
        <cusip>18453H106</cusip>
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          <isin value="US18453H1068"/>
          <ticker value="CCO"/>
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        <balance>550000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>610500.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Zimvie Inc</name>
        <lei>549300GFKURT1J6XR665</lei>
        <title>Zimvie Inc</title>
        <cusip>98888T107</cusip>
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          <isin value="US98888T1079"/>
          <ticker value="ZIMV"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>216000.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>St Joe Co/The</name>
        <lei>529900XVHOT3BF8PWG49</lei>
        <title>St Joe Co/The</title>
        <cusip>790148100</cusip>
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          <isin value="US7901481009"/>
          <ticker value="JOE"/>
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        <balance>242000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11361900.00000000</valUSD>
        <pctVal>0.716007721606</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Astec Industries Inc</name>
        <lei>5493002DO2QKHLKB2A48</lei>
        <title>Astec Industries Inc</title>
        <cusip>046224101</cusip>
        <identifiers>
          <isin value="US0462241011"/>
          <ticker value="ASTE"/>
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        <balance>24200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>833690.00000000</valUSD>
        <pctVal>0.052537733779</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Champion Homes Inc</name>
        <lei>N/A</lei>
        <title>Champion Homes Inc</title>
        <cusip>830830105</cusip>
        <identifiers>
          <isin value="US8308301055"/>
          <ticker value="SKY"/>
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        <balance>36000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3411360.00000000</valUSD>
        <pctVal>0.214978137563</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Toyota Motor Corp</name>
        <lei>5493006W3QUS5LMH6R84</lei>
        <title>Toyota Motor Corp</title>
        <cusip>892331307</cusip>
        <identifiers>
          <isin value="US8923313071"/>
          <ticker value="TM"/>
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        <balance>3050.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>538416.50000000</valUSD>
        <pctVal>0.033930097205</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>American Express Co</name>
        <lei>R4PP93JZOLY261QX3811</lei>
        <title>American Express Co</title>
        <cusip>025816109</cusip>
        <identifiers>
          <isin value="US0258161092"/>
          <ticker value="AXP"/>
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        <balance>190700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>51307835.00000000</valUSD>
        <pctVal>3.233332984705</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Anheuser-Busch InBev SA/NV</name>
        <lei>5493008H3828EMEXB082</lei>
        <title>Anheuser-Busch InBev SA/NV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BE0974293251"/>
          <ticker value="ABI"/>
          <other otherDesc="SEDOL" value="BYYHL23"/>
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        <balance>2100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
        <valUSD>129249.95000000</valUSD>
        <pctVal>0.008145113248</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Fortinet Inc</name>
        <lei>549300O0QJWDBAS0QX03</lei>
        <title>Fortinet Inc</title>
        <cusip>34959E109</cusip>
        <identifiers>
          <isin value="US34959E1091"/>
          <ticker value="FTNT"/>
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        <balance>2000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>192520.00000000</valUSD>
        <pctVal>0.012132284790</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Rolls-Royce Holdings PLC</name>
        <lei>213800EC7997ZBLZJH69</lei>
        <title>Rolls-Royce Holdings PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B63H8491"/>
          <ticker value="RR/"/>
          <other otherDesc="SEDOL" value="B63H849"/>
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        <balance>3305666.00000000</balance>
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        <pctVal>2.015514849440</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RPC Inc</name>
        <lei>N/A</lei>
        <title>RPC Inc</title>
        <cusip>749660106</cusip>
        <identifiers>
          <isin value="US7496601060"/>
          <ticker value="RES"/>
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        <balance>70000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>385000.00000000</valUSD>
        <pctVal>0.024262048849</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Watts Water Technologies Inc</name>
        <lei>549300REJOO94ERQN318</lei>
        <title>Watts Water Technologies Inc</title>
        <cusip>942749102</cusip>
        <identifiers>
          <isin value="US9427491025"/>
          <ticker value="WTS"/>
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        <balance>91000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18556720.00000000</valUSD>
        <pctVal>1.169413109400</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Central and Eastern Europe Fund Inc</name>
        <lei>549300TSXFIOF89ZI608</lei>
        <title>Central and Eastern Europe Fund Inc</title>
        <cusip>153436100</cusip>
        <identifiers>
          <isin value="US1534361001"/>
          <ticker value="CEE"/>
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        <balance>78000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1125540.00000000</valUSD>
        <pctVal>0.070929627173</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Estee Lauder Cos Inc/The</name>
        <lei>549300VFZ8XJ9NUPU221</lei>
        <title>Estee Lauder Cos Inc/The</title>
        <cusip>518439104</cusip>
        <identifiers>
          <isin value="US5184391044"/>
          <ticker value="EL"/>
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        <balance>42500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2805000.00000000</valUSD>
        <pctVal>0.176766355900</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Martin Marietta Materials Inc</name>
        <lei>5299005MZ4WZECVATV08</lei>
        <title>Martin Marietta Materials Inc</title>
        <cusip>573284106</cusip>
        <identifiers>
          <isin value="US5732841060"/>
          <ticker value="MLM"/>
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        <balance>5000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2390650.00000000</valUSD>
        <pctVal>0.150654719691</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DigitalBridge Group Inc</name>
        <lei>549300XG87L902AGBO89</lei>
        <title>DigitalBridge Group Inc</title>
        <cusip>25401T603</cusip>
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          <isin value="US25401T6038"/>
          <ticker value="DBRG"/>
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        <balance>110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>970200.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Hain Celestial Group Inc/The</name>
        <lei>5493000S8QXWHLIXDP75</lei>
        <title>Hain Celestial Group Inc/The</title>
        <cusip>405217100</cusip>
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          <isin value="US4052171000"/>
          <ticker value="HAIN"/>
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        <balance>52500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>217875.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>EchoStar Corp</name>
        <lei>549300EE20907QZ9GT38</lei>
        <title>EchoStar Corp</title>
        <cusip>278768106</cusip>
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          <isin value="US2787681061"/>
          <ticker value="SATS"/>
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        <balance>62500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1598750.00000000</valUSD>
        <pctVal>0.100750521032</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Kennametal Inc</name>
        <lei>549300GZDSG25XUV0Y08</lei>
        <title>Kennametal Inc</title>
        <cusip>489170100</cusip>
        <identifiers>
          <isin value="US4891701009"/>
          <ticker value="KMT"/>
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        <balance>24500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>521850.00000000</valUSD>
        <pctVal>0.032886104394</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Kerry Group PLC</name>
        <lei>635400TLVVBNXLFHWC59</lei>
        <title>Kerry Group PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE0004906560"/>
          <ticker value="KYGA"/>
          <other otherDesc="SEDOL" value="0490656"/>
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        <balance>55700.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Alphabet Inc</name>
        <lei>5493006MHB84DD0ZWV18</lei>
        <title>Alphabet Inc</title>
        <cusip>02079K305</cusip>
        <identifiers>
          <isin value="US02079K3059"/>
          <ticker value="GOOGL"/>
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        <balance>21500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3324760.00000000</valUSD>
        <pctVal>0.209520752029</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PACCAR Inc</name>
        <lei>KDTEY8BWE486IKZ3CC07</lei>
        <title>PACCAR Inc</title>
        <cusip>693718108</cusip>
        <identifiers>
          <isin value="US6937181088"/>
          <ticker value="PCAR"/>
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        <balance>103000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10029110.00000000</valUSD>
        <pctVal>0.632017549955</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Union Pacific Corp</name>
        <lei>549300LMMRSZZCZ8CL11</lei>
        <title>Union Pacific Corp</title>
        <cusip>907818108</cusip>
        <identifiers>
          <isin value="US9078181081"/>
          <ticker value="UNP"/>
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        <balance>500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>118120.00000000</valUSD>
        <pctVal>0.007443722623</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CNH Industrial NV</name>
        <lei>549300WGC2HZ5J67V817</lei>
        <title>CNH Industrial NV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL0010545661"/>
          <ticker value="CNH"/>
          <other otherDesc="SEDOL" value="BDX85Z1"/>
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        <balance>435000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5341800.00000000</valUSD>
        <pctVal>0.336631201408</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Ilika PLC</name>
        <lei>213800TMDNIE3Z8XXD26</lei>
        <title>Ilika PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B608Z994"/>
          <ticker value="IKA"/>
          <other otherDesc="SEDOL" value="B608Z99"/>
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        <balance>20000.00000000</balance>
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        <valUSD>9688.13000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Legacy Housing Corp</name>
        <lei>N/A</lei>
        <title>Legacy Housing Corp</title>
        <cusip>52472M101</cusip>
        <identifiers>
          <isin value="US52472M1018"/>
          <ticker value="LEGH"/>
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        <balance>9864.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>248770.08000000</valUSD>
        <pctVal>0.015677069696</pctVal>
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        <assetCat>EC</assetCat>
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        <name>Southwest Gas Holdings Inc</name>
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    <signature>
      <ncom:dateSigned>2025-05-29</ncom:dateSigned>
      <ncom:nameOfApplicant>Gabelli Equity Trust Inc</ncom:nameOfApplicant>
      <ncom:signature>John C. Ball</ncom:signature>
      <ncom:signerName>John C. Ball</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>NPORT-EX
<SEQUENCE>2
<FILENAME>GB601GB033125.htm
<TEXT>
<html>
<head>
<title></title>
<!--Uncomment the following meta tag to help resolve IE/Edge rendering problems. This tag cannot be uncommented in an SEC submission or it will be rejected.-->
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</head><body style="margin: 0px"><div style="page-break-after:always;margin:-8px;position:relative;height:1296px;width:1080px;transform-origin:top left;transform:scale(2,2)"><div style="position:absolute;top:0px;left:0px;width:540px;height:648px">
		<div style="height:12.40px;left:0px;position:absolute;top:0px;transform:translate(25.200px,612.233px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:489.60px">
			<div style="width:9792px;height:142.8px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,2.92px) rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:170px;position:absolute;top:-6.75px;left:4845.96px;white-space:nowrap">1</div></div>
		</div>
		<div style="height:33.73px;left:0px;position:absolute;top:0px;transform:translate(18.200px,24.305px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:489.40px">
			<div style="width:9788px;height:576px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,3.93px) rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, Helvetica, sans-serif;font-size:230px;font-weight:bold;position:absolute;top:-9px;left:0px;letter-spacing:-3.2px;white-space:nowrap">The Gabelli Equity Trust Inc.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:230px;font-weight:bold;position:absolute;top:279px;left:0px;letter-spacing:-2.4px;white-space:nowrap">Schedule of Investments &#8212; March 31, 2025 (Unaudited)</div></div>
		</div>
		<div style="background-color:transparent;height:4.50px;left:0px;position:absolute;top:0px;transform:translate(17.999px,57.416px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:489.60px">

		<div style="background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAB/gAAAATCAYAAACUadXJAAAACXBIWXMAAC4jAAAuIwF4pT92AAAA6ElEQVR4Xu3ZwQ2AMBDAsAN1/52YDEbos0Sy39kg18y8AwAAAAAAAAD82r0LAAAAAAAAAIDzDH4AAAAAAAAACDD4AQAAAAAAACDA4AcAAAAAAACAAIMfAAAAAAAAAAIMfgAAAAAAAAAIMPgBAAAAAAAAIMDgBwAAAAAAAIAAgx8AAAAAAAAAAgx+AAAAAAAAAAgw+AEAAAAAAAAgwOAHAAAAAAAAgACDHwAAAAAAAAACDH4AAAAAAAAACDD4AQAAAAAAACDA4AcAAAAAAACAAIMfAAAAAAAAAALWzDy7CAAAAAAAAAA46wMQOQHom10yKQAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100.00%;min-width:100%;width:100.00%;left:0px;position:absolute;top:0px"></div></div>
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rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:491.71px">
			<div style="width:9792px;height:10587.73px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,1.5px) rotate(0deg) scale(0.05)">

























































































































































































































































































































			<div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:438.72px;white-space:nowrap">Shares</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:40px;left:4092.36px;white-space:nowrap">Market</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:4133.72px;letter-spacing:-0.58px;white-space:nowrap">Value</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:486.88px;left:1007px;white-space:nowrap">COMMON STOCKS&#160;&#8212; 98.5%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:681.75px;left:1007px;white-space:nowrap">Financial Services&#160;&#8212; 14.2%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			43,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:1007px;white-space:nowrap">Aegon Ltd. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:1718.68px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:3815px;letter-spacing:-5px;white-space:nowrap">	$		281,300&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:0px;letter-spacing:-10px;white-space:nowrap">			250&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:1007px;text-rendering:optimizeLegibility;white-space:nowrap">Affiliated Managers Group Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:2964.12px;letter-spacing:51.24px;white-space:nowrap">........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			42,007&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			5,595&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:1007px;letter-spacing:0.03px;white-space:nowrap">Ally Financial Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:2163.48px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:3815px;letter-spacing:-5px;white-space:nowrap">			204,050&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:0px;letter-spacing:-5px;white-space:nowrap">			190,700&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:1007px;white-space:nowrap">American Express Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:2430.36px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			51,307,835&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			8,750&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:1007px;letter-spacing:0.02px;white-space:nowrap">Apollo Global Management Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:3053.08px;letter-spacing:51.57px;white-space:nowrap">.......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,198,225&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:0px;letter-spacing:-10px;white-space:nowrap">			400&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:1007px;white-space:nowrap">Arthur J. Gallagher &amp; Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:2608.28px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:3815px;letter-spacing:-5px;white-space:nowrap">			138,096&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			2,100&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:1007px;white-space:nowrap">Axis Capital Holdings Ltd. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:2697.24px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:3815px;letter-spacing:-5px;white-space:nowrap">			210,504&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			29,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:1007px;white-space:nowrap">Banco Bilbao Vizcaya Argentaria SA </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:3319.96px;letter-spacing:53.52px;white-space:nowrap">....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:3815px;letter-spacing:-5px;white-space:nowrap">			400,165&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2435.66px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			75,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2435.66px;left:1007px;white-space:nowrap">Banco Santander SA, ADR </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2435.66px;left:2697.24px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2435.66px;left:3815px;letter-spacing:-5px;white-space:nowrap">			502,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2630.53px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			51,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2630.53px;left:1007px;white-space:nowrap">Bank of America Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2630.53px;left:2430.36px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2630.53px;left:3815px;letter-spacing:-4px;white-space:nowrap">			2,128,230&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2825.41px;left:0px;letter-spacing:-13.33px;white-space:nowrap">			86&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2825.41px;left:1007px;white-space:nowrap">Berkshire Hathaway Inc., Cl.&#160;A&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2825.41px;left:3053.08px;letter-spacing:51.57px;white-space:nowrap">.......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2825.41px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			68,665,978&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3020.29px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			4,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3020.29px;left:1007px;white-space:nowrap">Berkshire Hathaway Inc., Cl.&#160;B&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3020.29px;left:3053.08px;letter-spacing:51.57px;white-space:nowrap">.......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3020.29px;left:3815px;letter-spacing:-4px;white-space:nowrap">			2,396,610&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3215.17px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			42,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3215.17px;left:1007px;white-space:nowrap">Blackstone Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3215.17px;left:1985.56px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3215.17px;left:3815px;letter-spacing:-4px;white-space:nowrap">			5,870,760&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3410.05px;left:0px;letter-spacing:-5px;white-space:nowrap">			227,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3410.05px;left:1007px;white-space:nowrap">Blue Owl Capital Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3410.05px;left:2341.4px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3410.05px;left:3815px;letter-spacing:-4px;white-space:nowrap">			4,559,100&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3604.92px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			1,370&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3604.92px;left:1007px;white-space:nowrap">Capital One Financial Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3604.92px;left:2697.24px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3604.92px;left:3815px;letter-spacing:-5px;white-space:nowrap">			245,641&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3799.8px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			15,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3799.8px;left:1007px;white-space:nowrap">Cipher Mining Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3799.8px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3799.8px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			34,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3994.68px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			83,620&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3994.68px;left:1007px;white-space:nowrap">Citigroup Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3994.68px;left:1896.6px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3994.68px;left:3815px;letter-spacing:-4px;white-space:nowrap">			5,936,184&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4189.56px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			30,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4189.56px;left:1007px;letter-spacing:0.27px;white-space:nowrap">Commerzbank AG </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4189.56px;left:2163.48px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4189.56px;left:3815px;letter-spacing:-5px;white-space:nowrap">			691,583&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4384.44px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			30,245&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4384.44px;left:1007px;white-space:nowrap">Credit Agricole SA </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4384.44px;left:2163.48px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4384.44px;left:3815px;letter-spacing:-5px;white-space:nowrap">			548,608&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4579.31px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			5,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4579.31px;left:1007px;letter-spacing:0.01px;white-space:nowrap">Cullen/Frost Bankers Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4579.31px;left:2608.28px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4579.31px;left:3815px;letter-spacing:-5px;white-space:nowrap">			626,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4774.19px;left:0px;letter-spacing:-5px;white-space:nowrap">			217,800&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4774.19px;left:1007px;white-space:nowrap">Dah Sing Banking Group Ltd. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4774.19px;left:2875.16px;letter-spacing:50.99px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4774.19px;left:3815px;letter-spacing:-5px;white-space:nowrap">			239,871&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4969.07px;left:0px;letter-spacing:-5px;white-space:nowrap">			128,800&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4969.07px;left:1007px;white-space:nowrap">Dah Sing Financial Holdings Ltd. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4969.07px;left:3142.04px;letter-spacing:52px;white-space:nowrap">......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4969.07px;left:3815px;letter-spacing:-5px;white-space:nowrap">			480,841&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5163.95px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			35,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5163.95px;left:1007px;white-space:nowrap">Daiwa Securities Group Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5163.95px;left:2786.2px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5163.95px;left:3815px;letter-spacing:-5px;white-space:nowrap">			233,227&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5358.82px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			30,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5358.82px;left:1007px;white-space:nowrap">Deutsche Bank AG </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5358.82px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5358.82px;left:3815px;letter-spacing:-5px;white-space:nowrap">			714,900&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5553.7px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			3,202&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5553.7px;left:1007px;white-space:nowrap">Diamond Hill Investment Group Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5553.7px;left:3319.96px;letter-spacing:53.52px;white-space:nowrap">....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5553.7px;left:3815px;letter-spacing:-5px;white-space:nowrap">			457,374&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5748.58px;left:0px;letter-spacing:-5px;white-space:nowrap">			110,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5748.58px;left:1007px;white-space:nowrap">DigitalBridge Group Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5748.58px;left:2608.28px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5748.58px;left:3815px;letter-spacing:-5px;white-space:nowrap">			970,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5943.46px;left:0px;letter-spacing:-10px;white-space:nowrap">			568&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5943.46px;left:1007px;white-space:nowrap">E-L Financial Corp. Ltd. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5943.46px;left:2519.32px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5943.46px;left:3815px;letter-spacing:-5px;white-space:nowrap">			502,459&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6138.34px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			3,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6138.34px;left:1007px;white-space:nowrap">EXOR NV </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6138.34px;left:1629.72px;letter-spacing:49.75px;white-space:nowrap">.......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6138.34px;left:3815px;letter-spacing:-5px;white-space:nowrap">			271,028&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6333.21px;left:0px;letter-spacing:-10px;white-space:nowrap">			478&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6333.21px;left:1007px;letter-spacing:-0.32px;white-space:nowrap">Farmers &amp; Merchants Bank of Long Beach </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6333.21px;left:3815px;letter-spacing:-4px;white-space:nowrap">			2,748,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6528.09px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			6,526&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6528.09px;left:1007px;white-space:nowrap">First American Financial Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6528.09px;left:2964.12px;letter-spacing:51.24px;white-space:nowrap">........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6528.09px;left:3815px;letter-spacing:-5px;white-space:nowrap">			428,301&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6722.97px;left:0px;letter-spacing:-10px;white-space:nowrap">			217&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6722.97px;left:1007px;white-space:nowrap">First Citizens BancShares Inc., Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6722.97px;left:3319.96px;letter-spacing:53.52px;white-space:nowrap">....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6722.97px;left:3815px;letter-spacing:-5px;white-space:nowrap">			402,344&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6917.85px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			17,526&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6917.85px;left:1007px;white-space:nowrap">Flushing Financial Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6917.85px;left:2519.32px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6917.85px;left:3815px;letter-spacing:-5px;white-space:nowrap">			222,580&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7112.73px;left:0px;letter-spacing:-4px;white-space:nowrap">			8,200,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7112.73px;left:1007px;white-space:nowrap">GAM Holding AG&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7112.73px;left:2163.48px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7112.73px;left:3815px;letter-spacing:-5px;white-space:nowrap">			824,912&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7307.6px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			17,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7307.6px;left:1007px;white-space:nowrap">ING Groep NV </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7307.6px;left:1896.6px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7307.6px;left:3815px;letter-spacing:-5px;white-space:nowrap">			330,694&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7502.48px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			32,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7502.48px;left:1007px;white-space:nowrap">Interactive Brokers Group Inc., Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7502.48px;left:3319.96px;letter-spacing:53.52px;white-space:nowrap">....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7502.48px;left:3815px;letter-spacing:-4px;white-space:nowrap">			5,298,880&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7697.36px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			8,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7697.36px;left:1007px;letter-spacing:-0.19px;white-space:nowrap">Intercontinental Exchange Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7697.36px;left:2964.12px;letter-spacing:51.24px;white-space:nowrap">........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7697.36px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,380,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7892.24px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			63,150&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7892.24px;left:1007px;white-space:nowrap">Janus Henderson Group plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7892.24px;left:2786.2px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7892.24px;left:3815px;letter-spacing:-4px;white-space:nowrap">			2,282,873&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8087.12px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			12,800&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8087.12px;left:1007px;white-space:nowrap">Japan Post Bank Co. Ltd. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8087.12px;left:2608.28px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8087.12px;left:3815px;letter-spacing:-5px;white-space:nowrap">			128,521&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8281.99px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			78,400&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8281.99px;left:1007px;white-space:nowrap">Jefferies Financial Group Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8281.99px;left:2875.16px;letter-spacing:50.99px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8281.99px;left:3815px;letter-spacing:-4px;white-space:nowrap">			4,199,888&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8476.87px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			30,600&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8476.87px;left:1007px;white-space:nowrap">JPMorgan Chase &amp; Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8476.87px;left:2519.32px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8476.87px;left:3815px;letter-spacing:-4px;white-space:nowrap">			7,506,180&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8671.75px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			6,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8671.75px;left:1007px;white-space:nowrap">Julius Baer Group Ltd. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8671.75px;left:2430.36px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8671.75px;left:3815px;letter-spacing:-5px;white-space:nowrap">			411,665&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8866.63px;left:0px;letter-spacing:-5px;white-space:nowrap">			900,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8866.63px;left:1007px;white-space:nowrap">Just Group plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8866.63px;left:1985.56px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8866.63px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,708,985&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9061.51px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			27,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9061.51px;left:1007px;white-space:nowrap">Kinnevik AB, Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9061.51px;left:2163.48px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9061.51px;left:3815px;letter-spacing:-5px;white-space:nowrap">			200,784&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9256.38px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			8,190&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9256.38px;left:1007px;white-space:nowrap">KKR &amp; Co. Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9256.38px;left:1985.56px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9256.38px;left:3815px;letter-spacing:-5px;white-space:nowrap">			946,846&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9451.26px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			13,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9451.26px;left:1007px;white-space:nowrap">Loews Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9451.26px;left:1807.64px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9451.26px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,194,830&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9646.14px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			1,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9646.14px;left:1007px;white-space:nowrap">LPL Financial Holdings Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9646.14px;left:2786.2px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9646.14px;left:3815px;letter-spacing:-5px;white-space:nowrap">			327,140&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9841.02px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			45,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9841.02px;left:1007px;white-space:nowrap">Marsh &amp; McLennan Companies Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9841.02px;left:3319.96px;letter-spacing:53.52px;white-space:nowrap">....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9841.02px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			11,030,156&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10035.9px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			2,100&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10035.9px;left:1007px;white-space:nowrap">Moelis &amp; Co., Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10035.9px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10035.9px;left:3815px;letter-spacing:-5px;white-space:nowrap">			122,556&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10230.77px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			9,640&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10230.77px;left:1007px;white-space:nowrap">Moody&#39;s Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10230.77px;left:1985.56px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10230.77px;left:3815px;letter-spacing:-4px;white-space:nowrap">			4,489,252&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10425.65px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			29,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10425.65px;left:1007px;white-space:nowrap">Morgan Stanley </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10425.65px;left:2074.52px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10425.65px;left:3815px;letter-spacing:-4px;white-space:nowrap">			3,383,430&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:5449.92px;white-space:nowrap">Shares</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:40px;left:9103.56px;white-space:nowrap">Market</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:9144.92px;letter-spacing:-0.58px;white-space:nowrap">Value</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:486.88px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			45,535&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:486.88px;left:6018.2px;letter-spacing:-0.36px;white-space:nowrap">NatWest Group plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:486.88px;left:7263.64px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:486.88px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">	$		265,748&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			11,246&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:6018.2px;white-space:nowrap">NN Group NV </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:6907.8px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			623,580&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			6,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:6018.2px;white-space:nowrap">Peapack-Gladstone Financial Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:8242.2px;letter-spacing:52.61px;white-space:nowrap">.....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			170,400&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			40,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:6018.2px;white-space:nowrap">Polar Capital Holdings plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:7708.44px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			220,631&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			13,077&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:6018.2px;white-space:nowrap">Prosus NV </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:6729.88px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			602,017&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			3,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:6018.2px;white-space:nowrap">Root Inc., Cl.&#160;A&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:7085.72px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			467,040&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			46,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:6018.2px;white-space:nowrap">S&amp;P Global Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:7085.72px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			23,626,650&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			12,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:6018.2px;white-space:nowrap">Shinhan Financial Group Co. Ltd., ADR </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:8509.08px;letter-spacing:58.08px;white-space:nowrap">..</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			391,376&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			1,100&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:6018.2px;letter-spacing:-0.27px;white-space:nowrap">Silvercrest Asset Management Group Inc., </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2237.9px;left:6162.2px;white-space:nowrap">Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2237.9px;left:6463px;letter-spacing:49.69px;white-space:nowrap">.........................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2237.9px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			17,996&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2432.78px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			3,823&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2432.78px;left:6018.2px;white-space:nowrap">Southern First Bancshares Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2432.78px;left:8064.28px;letter-spacing:51.57px;white-space:nowrap">.......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2432.78px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			125,853&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2627.66px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			20,987&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2627.66px;left:6018.2px;white-space:nowrap">Standard Chartered plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2627.66px;left:7530.52px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2627.66px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			308,918&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2822.53px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			97,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2822.53px;left:6018.2px;white-space:nowrap">State Street Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2822.53px;left:7174.68px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2822.53px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			8,684,410&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3017.41px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			5,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3017.41px;left:6018.2px;white-space:nowrap">StoneCo Ltd., Cl.&#160;A&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3017.41px;left:7352.6px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3017.41px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			52,400&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3212.29px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			66,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3212.29px;left:6018.2px;letter-spacing:-4.91px;white-space:nowrap">T. Rowe Price Group Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3212.29px;left:7619.48px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3212.29px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			6,109,355&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3407.17px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			2,400&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3407.17px;left:6018.2px;letter-spacing:-1.97px;white-space:nowrap">Texas Capital Bancshares Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3407.17px;left:7975.32px;letter-spacing:51.24px;white-space:nowrap">........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3407.17px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			179,280&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3602.05px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			120,600&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3602.05px;left:6018.2px;letter-spacing:-1.76px;white-space:nowrap">The Bank of New York Mellon Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3602.05px;left:8331.16px;letter-spacing:53.52px;white-space:nowrap">....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3602.05px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			10,114,722&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3796.92px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			5,300&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3796.92px;left:6018.2px;white-space:nowrap">The Goldman Sachs Group Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3796.92px;left:8064.28px;letter-spacing:51.57px;white-space:nowrap">.......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3796.92px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			2,895,337&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3991.8px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			20,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3991.8px;left:6018.2px;white-space:nowrap">The PNC Financial Services Group Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3991.8px;left:8509.08px;letter-spacing:58.08px;white-space:nowrap">..</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3991.8px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			3,515,400&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4186.68px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			13,750&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4186.68px;left:6018.2px;letter-spacing:-0.36px;white-space:nowrap">The Westaim Corp.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4186.68px;left:7352.6px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4186.68px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			301,075&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4381.56px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			16,700&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4381.56px;left:6018.2px;letter-spacing:-1.69px;white-space:nowrap">Truist Financial Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4381.56px;left:7352.6px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4381.56px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			687,205&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4576.44px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			16,100&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4576.44px;left:6018.2px;letter-spacing:-1.48px;white-space:nowrap">TrustCo Bank Corp. NY </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4576.44px;left:7530.52px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4576.44px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			490,728&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4771.31px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			7,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4771.31px;left:6018.2px;white-space:nowrap">UniCredit SpA </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4771.31px;left:6907.8px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4771.31px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			401,180&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4966.19px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			37,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4966.19px;left:6018.2px;letter-spacing:-3.95px;white-space:nowrap">W. R. Berkley Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4966.19px;left:7263.64px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4966.19px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			2,668,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5161.07px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			2,900&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5161.07px;left:6018.2px;letter-spacing:-0.36px;white-space:nowrap">Webster Financial Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5161.07px;left:7530.52px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5161.07px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			149,495&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5355.95px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			157,800&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5355.95px;left:6018.2px;letter-spacing:-0.45px;white-space:nowrap">Wells Fargo &amp; Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5355.95px;left:7174.68px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5355.95px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			11,328,462&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5550.82px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			25,348&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5550.82px;left:6018.2px;letter-spacing:-0.32px;white-space:nowrap">Westwood Holdings Group Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5550.82px;left:8064.28px;letter-spacing:51.57px;white-space:nowrap">.......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5550.82px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			410,638&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5745.7px;left:8826.2px;letter-spacing:-3.33px;white-space:nowrap">			274,235,489&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6034.94px;left:6018.2px;white-space:nowrap">Food and Beverage&#160;&#8212; 8.5%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6229.82px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			6,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6229.82px;left:6018.2px;white-space:nowrap">Ajinomoto Co. Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6229.82px;left:7263.64px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6229.82px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			118,348&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6424.7px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			2,100&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6424.7px;left:6018.2px;letter-spacing:-0.39px;white-space:nowrap">Anheuser-Busch InBev SA/NV </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6424.7px;left:7975.32px;letter-spacing:51.24px;white-space:nowrap">........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6424.7px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			129,250&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6619.57px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			147,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6619.57px;left:6018.2px;letter-spacing:0.02px;white-space:nowrap">BellRing Brands Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6619.57px;left:7441.56px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6619.57px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			10,982,850&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6814.45px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			90,800&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6814.45px;left:6018.2px;white-space:nowrap">Brown-Forman Corp., Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6814.45px;left:7797.4px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6814.45px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			3,039,076&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7009.33px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			18,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7009.33px;left:6018.2px;letter-spacing:0.01px;white-space:nowrap">Constellation Brands Inc., Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7009.33px;left:7975.32px;letter-spacing:51.24px;white-space:nowrap">........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7009.33px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			3,340,064&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7204.21px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			25,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7204.21px;left:6018.2px;white-space:nowrap">Crimson Wine Group Ltd.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7204.21px;left:7708.44px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7204.21px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			144,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7399.09px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			172,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7399.09px;left:6018.2px;white-space:nowrap">Danone SA </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7399.09px;left:6729.88px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7399.09px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			13,175,078&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7593.96px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			800,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7593.96px;left:6018.2px;white-space:nowrap">Davide Campari-Milano NV </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7593.96px;left:7797.4px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7593.96px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			4,683,327&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7788.84px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			4,250&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7788.84px;left:6018.2px;white-space:nowrap">Diageo plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7788.84px;left:6729.88px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7788.84px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			110,595&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7983.72px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			140,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7983.72px;left:6018.2px;white-space:nowrap">Diageo plc, ADR </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7983.72px;left:7085.72px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7983.72px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			14,670,600&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8178.6px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			86,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8178.6px;left:6018.2px;white-space:nowrap">Farmer Brothers Co.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8178.6px;left:7441.56px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8178.6px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			190,920&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8373.48px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			90,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8373.48px;left:6018.2px;white-space:nowrap">Flowers Foods Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8373.48px;left:7263.64px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8373.48px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,710,900&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8568.35px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			85,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8568.35px;left:6018.2px;letter-spacing:-3.68px;white-space:nowrap">Fomento Economico Mexicano SAB de CV, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8760.35px;left:6162.2px;white-space:nowrap">ADR </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8760.35px;left:6463px;letter-spacing:49.69px;white-space:nowrap">.........................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8760.35px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			8,343,090&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8955.23px;left:5011.2px;letter-spacing:-4px;white-space:nowrap">			1,670,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8955.23px;left:6018.2px;letter-spacing:-3.68px;white-space:nowrap">Grupo Bimbo SAB de CV, Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8955.23px;left:7975.32px;letter-spacing:51.24px;white-space:nowrap">........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8955.23px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			4,528,247&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9150.11px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			3,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9150.11px;left:6018.2px;white-space:nowrap">Heineken Holding NV </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9150.11px;left:7352.6px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9150.11px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			253,186&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9344.99px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			42,550&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9344.99px;left:6018.2px;white-space:nowrap">Heineken NV </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9344.99px;left:6907.8px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9344.99px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			3,468,182&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9539.87px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			3,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9539.87px;left:6018.2px;white-space:nowrap">Ingredion Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9539.87px;left:6907.8px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9539.87px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			432,672&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9734.74px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			97,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9734.74px;left:6018.2px;white-space:nowrap">ITO EN Ltd. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9734.74px;left:6818.84px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9734.74px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			2,071,794&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9929.62px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			55,700&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9929.62px;left:6018.2px;letter-spacing:0.48px;white-space:nowrap">Kerry Group plc, Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9929.62px;left:7441.56px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9929.62px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			5,869,258&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10124.5px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			2,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10124.5px;left:6018.2px;letter-spacing:0.48px;white-space:nowrap">Kerry Group plc, Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10124.5px;left:7441.56px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10124.5px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			209,340&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10319.38px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			8,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10319.38px;left:6018.2px;white-space:nowrap">Keurig Dr Pepper Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10319.38px;left:7441.56px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10319.38px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			273,760&#8204;</div></div>
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</div></div><div style="page-break-after:always;margin:-8px;position:relative;height:1296px;width:1080px;transform-origin:top left;transform:scale(2,2)"><div style="position:absolute;top:0px;left:0px;width:540px;height:648px">
		<div style="height:12.40px;left:0px;position:absolute;top:0px;transform:translate(25.200px,612.233px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:489.60px">
			<div style="width:9792px;height:142.8px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,2.92px) rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:170px;position:absolute;top:-6.75px;left:4845.96px;white-space:nowrap">2</div></div>
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		<div style="height:33.73px;left:0px;position:absolute;top:0px;transform:translate(18.200px,24.305px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:489.40px">
			<div style="width:9788px;height:576px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,3.93px) rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, Helvetica, sans-serif;font-size:230px;font-weight:bold;position:absolute;top:-9px;left:0px;letter-spacing:-3.2px;white-space:nowrap">The Gabelli Equity Trust Inc.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:230px;font-weight:bold;position:absolute;top:279px;left:0px;letter-spacing:-2.4px;white-space:nowrap">Schedule of Investments (Continued) &#8212; March 31, 2025 (Unaudited)</div></div>
		</div>
		<div style="background-color:transparent;height:4.50px;left:0px;position:absolute;top:0px;transform:translate(17.999px,57.416px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:489.60px">

		<div style="background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAB/gAAAATCAYAAACUadXJAAAACXBIWXMAAC4jAAAuIwF4pT92AAAA6ElEQVR4Xu3ZwQ2AMBDAsAN1/52YDEbos0Sy39kg18y8AwAAAAAAAAD82r0LAAAAAAAAAIDzDH4AAAAAAAAACDD4AQAAAAAAACDA4AcAAAAAAACAAIMfAAAAAAAAAAIMfgAAAAAAAAAIMPgBAAAAAAAAIMDgBwAAAAAAAIAAgx8AAAAAAAAAAgx+AAAAAAAAAAgw+AEAAAAAAAAgwOAHAAAAAAAAgACDHwAAAAAAAAACDH4AAAAAAAAACDD4AQAAAAAAACDA4AcAAAAAAACAAIMfAAAAAAAAAALWzDy7CAAAAAAAAAA46wMQOQHom10yKQAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100.00%;min-width:100%;width:100.00%;left:0px;position:absolute;top:0px"></div></div>
		<div style="background-image:url(data:image/png;base64,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rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:491.71px">
			<div style="width:9792px;height:10582.27px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,1.5px) rotate(0deg) scale(0.05)">





































































































































































































































































































































			<div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:438.72px;white-space:nowrap">Shares</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:40px;left:4092.36px;white-space:nowrap">Market</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:4133.72px;letter-spacing:-0.58px;white-space:nowrap">Value</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:486.88px;left:1007px;white-space:nowrap">COMMON STOCKS (Continued)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:681.75px;left:1007px;white-space:nowrap">Food and Beverage (Continued)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			9,550&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:1007px;letter-spacing:-2.37px;white-space:nowrap">LVMH Moet Hennessy Louis Vuitton SE </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:3497.88px;letter-spacing:58.08px;white-space:nowrap">..</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:3815px;letter-spacing:-4px;white-space:nowrap">	$		5,903,611&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			40,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:1007px;white-space:nowrap">Maple Leaf Foods Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:2430.36px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:3815px;letter-spacing:-5px;white-space:nowrap">			696,849&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			62,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:1007px;white-space:nowrap">Molson Coors Beverage Co., Cl.&#160;B </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:3142.04px;letter-spacing:52px;white-space:nowrap">......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:3815px;letter-spacing:-4px;white-space:nowrap">			3,773,940&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:0px;letter-spacing:-5px;white-space:nowrap">			165,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:1007px;white-space:nowrap">Mondel&#275;z International Inc., Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:3142.04px;letter-spacing:52px;white-space:nowrap">......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			11,195,250&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			28,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:1007px;white-space:nowrap">Morinaga Milk Industry Co. Ltd. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:3053.08px;letter-spacing:51.57px;white-space:nowrap">.......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:3815px;letter-spacing:-5px;white-space:nowrap">			581,505&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			20,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:1007px;white-space:nowrap">Nestl&#233; SA </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:1629.72px;letter-spacing:49.75px;white-space:nowrap">.......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:3815px;letter-spacing:-4px;white-space:nowrap">			2,019,668&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:0px;letter-spacing:-5px;white-space:nowrap">			140,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:1007px;white-space:nowrap">Niagen Bioscience Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:2519.32px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:3815px;letter-spacing:-5px;white-space:nowrap">			966,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			13,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:1007px;white-space:nowrap">Nomad Foods Ltd. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:3815px;letter-spacing:-5px;white-space:nowrap">			255,450&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2435.66px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			92,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2435.66px;left:1007px;white-space:nowrap">PepsiCo Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2435.66px;left:1807.64px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2435.66px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			13,794,480&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2630.53px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			38,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2630.53px;left:1007px;white-space:nowrap">Pernod Ricard SA </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2630.53px;left:2163.48px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2630.53px;left:3815px;letter-spacing:-4px;white-space:nowrap">			3,749,819&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2825.41px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			38,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2825.41px;left:1007px;white-space:nowrap">Post Holdings Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2825.41px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2825.41px;left:3815px;letter-spacing:-4px;white-space:nowrap">			4,479,860&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3020.29px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			40,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3020.29px;left:1007px;white-space:nowrap">Remy Cointreau SA </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3020.29px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3020.29px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,865,891&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3215.17px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			5,900&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3215.17px;left:1007px;white-space:nowrap">The Boston Beer Co. Inc., Cl.&#160;A&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3215.17px;left:3053.08px;letter-spacing:51.57px;white-space:nowrap">.......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3215.17px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,409,156&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3410.05px;left:0px;letter-spacing:-5px;white-space:nowrap">			158,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3410.05px;left:1007px;white-space:nowrap">The Campbell&#39;s Company </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3410.05px;left:2697.24px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3410.05px;left:3815px;letter-spacing:-4px;white-space:nowrap">			6,327,320&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3604.92px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			60,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3604.92px;left:1007px;white-space:nowrap">The Coca-Cola Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3604.92px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3604.92px;left:3815px;letter-spacing:-4px;white-space:nowrap">			4,297,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3799.8px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			52,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3799.8px;left:1007px;white-space:nowrap">The Hain Celestial Group Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3799.8px;left:2964.12px;letter-spacing:51.24px;white-space:nowrap">........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3799.8px;left:3815px;letter-spacing:-5px;white-space:nowrap">			217,875&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3994.68px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			7,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3994.68px;left:1007px;white-space:nowrap">The Hershey Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3994.68px;left:2074.52px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3994.68px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,197,210&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4189.56px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			24,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4189.56px;left:1007px;white-space:nowrap">The J.M. Smucker Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4189.56px;left:2430.36px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4189.56px;left:3815px;letter-spacing:-4px;white-space:nowrap">			2,865,522&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4384.44px;left:0px;letter-spacing:-5px;white-space:nowrap">			117,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4384.44px;left:1007px;white-space:nowrap">The Kraft Heinz Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4384.44px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4384.44px;left:3815px;letter-spacing:-4px;white-space:nowrap">			3,560,310&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4579.31px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			17,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4579.31px;left:1007px;white-space:nowrap">The Simply Good Foods Co.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4579.31px;left:2875.16px;letter-spacing:50.99px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4579.31px;left:3815px;letter-spacing:-5px;white-space:nowrap">			603,575&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4774.19px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			44,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4774.19px;left:1007px;letter-spacing:-1.48px;white-space:nowrap">Tootsie Roll Industries Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4774.19px;left:2697.24px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4774.19px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,385,120&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4969.07px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			7,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4969.07px;left:1007px;letter-spacing:-1.18px;white-space:nowrap">TreeHouse Foods Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4969.07px;left:2519.32px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4969.07px;left:3815px;letter-spacing:-5px;white-space:nowrap">			203,175&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5163.95px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			40,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5163.95px;left:1007px;letter-spacing:-1.47px;white-space:nowrap">Tyson Foods Inc., Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5163.95px;left:2519.32px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5163.95px;left:3815px;letter-spacing:-4px;white-space:nowrap">			2,552,400&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5358.82px;left:0px;letter-spacing:-5px;white-space:nowrap">			646,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5358.82px;left:1007px;letter-spacing:-1.26px;white-space:nowrap">Yakult Honsha Co. Ltd. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5358.82px;left:2519.32px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5358.82px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			12,289,893&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5553.7px;left:3815px;letter-spacing:-3.33px;white-space:nowrap">			163,935,616&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5842.94px;left:1007px;white-space:nowrap">Equipment and Supplies&#160;&#8212; 7.8%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6037.82px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			3,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6037.82px;left:1007px;white-space:nowrap">3M Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6037.82px;left:1540.76px;letter-spacing:49.72px;white-space:nowrap">........................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6037.82px;left:3815px;letter-spacing:-5px;white-space:nowrap">			440,580&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6232.7px;left:0px;letter-spacing:-5px;white-space:nowrap">			309,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6232.7px;left:1007px;white-space:nowrap">AMETEK Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6232.7px;left:1896.6px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6232.7px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			53,225,688&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6427.57px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			28,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6427.57px;left:1007px;white-space:nowrap">Amphenol Corp., Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6427.57px;left:2430.36px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6427.57px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,836,520&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6622.45px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			10,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6622.45px;left:1007px;white-space:nowrap">Ardagh Group SA&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6622.45px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6622.45px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			29,400&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6817.33px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			48,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6817.33px;left:1007px;white-space:nowrap">Ardagh Metal Packaging SA </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6817.33px;left:2786.2px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6817.33px;left:3815px;letter-spacing:-5px;white-space:nowrap">			144,960&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7012.21px;left:0px;letter-spacing:-5px;white-space:nowrap">			281,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7012.21px;left:1007px;white-space:nowrap">Donaldson Co. Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7012.21px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7012.21px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			18,843,860&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7207.09px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			18,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7207.09px;left:1007px;white-space:nowrap">Federal Signal Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7207.09px;left:2341.4px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7207.09px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,323,900&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7401.96px;left:0px;letter-spacing:-5px;white-space:nowrap">			165,300&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7401.96px;left:1007px;letter-spacing:0.29px;white-space:nowrap">Flowserve Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7401.96px;left:2074.52px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7401.96px;left:3815px;letter-spacing:-4px;white-space:nowrap">			8,073,252&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7596.84px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			36,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7596.84px;left:1007px;white-space:nowrap">Franklin Electric Co. Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7596.84px;left:2608.28px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7596.84px;left:3815px;letter-spacing:-4px;white-space:nowrap">			3,379,680&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7791.72px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			7,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7791.72px;left:1007px;letter-spacing:0.02px;white-space:nowrap">Hubbell Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7791.72px;left:1807.64px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7791.72px;left:3815px;letter-spacing:-4px;white-space:nowrap">			2,481,825&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7986.6px;left:0px;letter-spacing:-5px;white-space:nowrap">			103,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7986.6px;left:1007px;white-space:nowrap">IDEX Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7986.6px;left:1718.68px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7986.6px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			18,676,104&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8181.48px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			20,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8181.48px;left:1007px;white-space:nowrap">Ilika plc&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8181.48px;left:1629.72px;letter-spacing:49.75px;white-space:nowrap">.......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8181.48px;left:3815px;letter-spacing:-6.67px;white-space:nowrap">			9,688&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8376.35px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			15,525&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8376.35px;left:1007px;letter-spacing:0.02px;white-space:nowrap">Kimball Electronics Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8376.35px;left:2608.28px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8376.35px;left:3815px;letter-spacing:-5px;white-space:nowrap">			255,386&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8571.23px;left:0px;letter-spacing:-5px;white-space:nowrap">			170,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8571.23px;left:1007px;letter-spacing:0.02px;white-space:nowrap">Mueller Industries Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8571.23px;left:2430.36px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8571.23px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			12,981,870&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8766.11px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			59,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8766.11px;left:1007px;letter-spacing:-0.48px;white-space:nowrap">Mueller Water Products Inc., Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8766.11px;left:3231px;letter-spacing:52.61px;white-space:nowrap">.....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8766.11px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,499,780&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8960.99px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			8,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8960.99px;left:1007px;white-space:nowrap">Sealed Air Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8960.99px;left:2074.52px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8960.99px;left:3815px;letter-spacing:-5px;white-space:nowrap">			231,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9155.87px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			20,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9155.87px;left:1007px;letter-spacing:-1.48px;white-space:nowrap">Tenaris SA, ADR </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9155.87px;left:2074.52px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9155.87px;left:3815px;letter-spacing:-5px;white-space:nowrap">			782,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9350.74px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			80,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9350.74px;left:1007px;letter-spacing:-0.41px;white-space:nowrap">The Timken Co.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9350.74px;left:1986.19px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9350.74px;left:3815px;letter-spacing:-4px;white-space:nowrap">			5,749,600&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9545.62px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			3,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9545.62px;left:1007px;letter-spacing:-2.37px;white-space:nowrap">The Toro Co.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9545.62px;left:1808.44px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9545.62px;left:3815px;letter-spacing:-5px;white-space:nowrap">			254,625&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9740.5px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			59,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9740.5px;left:1007px;letter-spacing:-0.58px;white-space:nowrap">The Weir Group plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9740.5px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9740.5px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,768,148&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9935.38px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			91,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9935.38px;left:1007px;letter-spacing:-0.91px;white-space:nowrap">Watts Water Technologies Inc., Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9935.38px;left:3319.96px;letter-spacing:53.52px;white-space:nowrap">....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9935.38px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			18,556,720&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10130.26px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			3,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10130.26px;left:1007px;white-space:nowrap">Xerox Holdings Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10130.26px;left:2430.36px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10130.26px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			16,905&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10325.13px;left:3815px;letter-spacing:-3.33px;white-space:nowrap">			150,561,891&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:5449.92px;white-space:nowrap">Shares</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:40px;left:9103.56px;white-space:nowrap">Market</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:9144.92px;letter-spacing:-0.58px;white-space:nowrap">Value</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:486.88px;left:6018.2px;text-rendering:optimizeLegibility;white-space:nowrap">Diversified Industrial&#160;&#8212; 6.5%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:5011.2px;letter-spacing:-10px;white-space:nowrap">			500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:6018.2px;letter-spacing:-0.91px;white-space:nowrap">Agilent Technologies Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:7619.48px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">	$		58,490&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			412,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:6018.2px;white-space:nowrap">Ampco-Pittsburgh Corp.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:7708.44px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			894,040&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			41,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:6018.2px;white-space:nowrap">AZZ Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:6551.96px;letter-spacing:49.72px;white-space:nowrap">........................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			3,469,815&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			155,100&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:6018.2px;white-space:nowrap">Crane Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:6640.92px;letter-spacing:49.75px;white-space:nowrap">.......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			23,758,218&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:5011.2px;letter-spacing:-10px;white-space:nowrap">			710&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:6018.2px;white-space:nowrap">Eaton Corp. plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:6996.76px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			192,999&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			4,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:6018.2px;white-space:nowrap">Esab Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:6729.88px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			466,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			39,625&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:6018.2px;white-space:nowrap">General Electric Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:7263.64px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			7,930,944&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			120,700&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:6018.2px;white-space:nowrap">Greif Inc., Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:6996.76px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			6,637,293&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			12,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:6018.2px;white-space:nowrap">Greif Inc., Cl.&#160;B </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:6996.76px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			711,360&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2435.66px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			18,100&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2435.66px;left:6018.2px;white-space:nowrap">Griffon Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2435.66px;left:6907.8px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2435.66px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,294,150&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2630.53px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			5,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2630.53px;left:6018.2px;white-space:nowrap">GXO Logistics Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2630.53px;left:7352.6px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2630.53px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			195,400&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2825.41px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			114,400&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2825.41px;left:6018.2px;letter-spacing:0.02px;white-space:nowrap">Honeywell International Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2825.41px;left:7797.4px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2825.41px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			24,224,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3020.29px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			28,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3020.29px;left:6018.2px;letter-spacing:0.02px;white-space:nowrap">Ingersoll Rand Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3020.29px;left:7263.64px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3020.29px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			2,240,840&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3215.17px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			92,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3215.17px;left:6018.2px;white-space:nowrap">ITT Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3215.17px;left:6551.96px;letter-spacing:49.72px;white-space:nowrap">........................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3215.17px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			11,882,720&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3410.05px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			24,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3410.05px;left:6018.2px;white-space:nowrap">Kennametal Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3410.05px;left:7085.72px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3410.05px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			521,850&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3604.92px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			50,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3604.92px;left:6018.2px;white-space:nowrap">Myers Industries Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3604.92px;left:7441.56px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3604.92px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			596,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3799.8px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			23,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3799.8px;left:6018.2px;letter-spacing:-0.48px;white-space:nowrap">nVent Electric plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3799.8px;left:7174.68px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3799.8px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,205,660&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3994.68px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			101,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3994.68px;left:6018.2px;white-space:nowrap">Park-Ohio Holdings Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3994.68px;left:7708.44px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3994.68px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			2,181,600&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4189.56px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			9,454&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4189.56px;left:6018.2px;white-space:nowrap">Proto Labs Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4189.56px;left:7085.72px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4189.56px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			331,268&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4384.44px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			20,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4384.44px;left:6018.2px;letter-spacing:-0.91px;white-space:nowrap">PureCycle Technologies Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4384.44px;left:7886.36px;letter-spacing:50.99px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4384.44px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			138,400&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4579.31px;left:5011.2px;letter-spacing:-10px;white-space:nowrap">			500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4579.31px;left:6018.2px;letter-spacing:0.01px;white-space:nowrap">Rheinmetall AG </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4579.31px;left:6996.76px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4579.31px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			713,117&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4774.19px;left:5011.2px;letter-spacing:-10px;white-space:nowrap">			500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4774.19px;left:6018.2px;letter-spacing:-0.91px;white-space:nowrap">Roper Technologies Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4774.19px;left:7619.48px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4774.19px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			294,790&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4969.07px;left:5011.2px;letter-spacing:-10px;white-space:nowrap">			900&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4969.07px;left:6018.2px;white-space:nowrap">Siemens AG </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4969.07px;left:6818.84px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4969.07px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			206,215&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5163.95px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			9,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5163.95px;left:6018.2px;white-space:nowrap">Smiths Group plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5163.95px;left:7174.68px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5163.95px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			224,493&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5358.82px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			5,250&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5358.82px;left:6018.2px;white-space:nowrap">Societe Generale SA </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5358.82px;left:7352.6px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5358.82px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			234,964&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5553.7px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			390,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5553.7px;left:6018.2px;white-space:nowrap">Steel Partners Holdings LP&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5553.7px;left:7797.4px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5553.7px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			15,991,950&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5748.58px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			15,307&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5748.58px;left:6018.2px;white-space:nowrap">Stratasys Ltd.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5748.58px;left:6996.76px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5748.58px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			149,856&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5943.46px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			10,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5943.46px;left:6018.2px;white-space:nowrap">Sulzer AG </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5943.46px;left:6640.92px;letter-spacing:49.75px;white-space:nowrap">.......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5943.46px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,777,891&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6138.34px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			73,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6138.34px;left:6018.2px;letter-spacing:-1.48px;white-space:nowrap">Textron Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6138.34px;left:6818.84px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6138.34px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			5,274,250&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6333.21px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			2,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6333.21px;left:6018.2px;white-space:nowrap">The Eastern Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6333.21px;left:7085.72px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6333.21px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			63,300&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6528.09px;left:5011.2px;letter-spacing:-10px;white-space:nowrap">			300&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6528.09px;left:6018.2px;white-space:nowrap">The Sherwin-Williams Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6528.09px;left:7708.44px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6528.09px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			104,757&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6722.97px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			100,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6722.97px;left:6018.2px;letter-spacing:-1.97px;white-space:nowrap">Toray Industries Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6722.97px;left:7352.6px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6722.97px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			677,378&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6917.85px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			19,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6917.85px;left:6018.2px;letter-spacing:-1.97px;white-space:nowrap">Trane Technologies plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6917.85px;left:7530.52px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6917.85px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			6,468,864&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7112.73px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			83,215&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7112.73px;left:6018.2px;letter-spacing:-1.32px;white-space:nowrap">Tredegar Corp.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7112.73px;left:7085.72px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7112.73px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			640,756&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7307.6px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			84,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7307.6px;left:6018.2px;letter-spacing:-1.48px;white-space:nowrap">Trinity Industries Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7307.6px;left:7352.6px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7307.6px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			2,357,040&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7502.48px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			3,800&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7502.48px;left:6018.2px;letter-spacing:-0.36px;white-space:nowrap">Valmont Industries Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7502.48px;left:7530.52px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7502.48px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,084,406&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7697.36px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			1,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7697.36px;left:6018.2px;letter-spacing:-0.32px;white-space:nowrap">VeriSign Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7697.36px;left:6907.8px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7697.36px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			253,870&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7892.24px;left:8826.2px;letter-spacing:-3.33px;white-space:nowrap">			125,449,644&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8181.48px;left:6018.2px;white-space:nowrap">Automotive: Parts and Accessories&#160;&#8212; 4.5%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8376.35px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			7,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8376.35px;left:6018.2px;white-space:nowrap">Aptiv plc&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8376.35px;left:6729.88px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8376.35px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			446,250&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8571.23px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			2,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8571.23px;left:6018.2px;letter-spacing:-0.91px;white-space:nowrap">Atmus Filtration Technologies Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8571.23px;left:8242.2px;letter-spacing:52.61px;white-space:nowrap">.....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8571.23px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			91,825&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8766.11px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			79,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8766.11px;left:6018.2px;letter-spacing:-0.26px;white-space:nowrap">BorgWarner Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8766.11px;left:7085.72px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8766.11px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			2,263,350&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8960.99px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			441,233&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8960.99px;left:6018.2px;white-space:nowrap">Dana Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8960.99px;left:6640.92px;letter-spacing:49.75px;white-space:nowrap">.......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8960.99px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			5,881,636&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9155.87px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			350,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9155.87px;left:6018.2px;white-space:nowrap">Dowlais Group plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9155.87px;left:7174.68px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9155.87px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			273,302&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9350.74px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			12,935&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9350.74px;left:6018.2px;white-space:nowrap">Ducommun Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9350.74px;left:7174.68px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9350.74px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			750,618&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9545.62px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			210,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9545.62px;left:6018.2px;white-space:nowrap">Garrett Motion Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9545.62px;left:7263.64px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9545.62px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,757,700&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9740.5px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			163,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9740.5px;left:6018.2px;white-space:nowrap">Genuine Parts Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9740.5px;left:7174.68px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9740.5px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			19,443,648&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9935.38px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			130,600&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9935.38px;left:6018.2px;white-space:nowrap">Modine Manufacturing Co.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9935.38px;left:7797.4px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9935.38px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			10,023,550&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10130.26px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			29,850&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10130.26px;left:6018.2px;letter-spacing:0.02px;white-space:nowrap">O&#39;Reilly Automotive Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10130.26px;left:7619.48px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10130.26px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			42,762,513&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10325.13px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			9,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10325.13px;left:6018.2px;white-space:nowrap">Phinia Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10325.13px;left:6729.88px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10325.13px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			390,356&#8204;</div></div>
		</div>


</div></div><div style="page-break-after:always;margin:-8px;position:relative;height:1296px;width:1080px;transform-origin:top left;transform:scale(2,2)"><div style="position:absolute;top:0px;left:0px;width:540px;height:648px">
		<div style="height:12.40px;left:0px;position:absolute;top:0px;transform:translate(25.200px,612.233px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:489.60px">
			<div style="width:9792px;height:142.8px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,2.92px) rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:170px;position:absolute;top:-6.75px;left:4845.96px;white-space:nowrap">3</div></div>
		</div>
		<div style="height:33.73px;left:0px;position:absolute;top:0px;transform:translate(18.200px,24.305px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:489.40px">
			<div style="width:9788px;height:576px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,3.93px) rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, Helvetica, sans-serif;font-size:230px;font-weight:bold;position:absolute;top:-9px;left:0px;letter-spacing:-3.2px;white-space:nowrap">The Gabelli Equity Trust Inc.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:230px;font-weight:bold;position:absolute;top:279px;left:0px;letter-spacing:-2.4px;white-space:nowrap">Schedule of Investments (Continued) &#8212; March 31, 2025 (Unaudited)</div></div>
		</div>
		<div style="background-color:transparent;height:4.50px;left:0px;position:absolute;top:0px;transform:translate(17.999px,57.416px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:489.60px">

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		<div 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rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:491.71px">
			<div style="width:9792px;height:10582.27px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,1.5px) rotate(0deg) scale(0.05)">


































































































































































































































































































































			<div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:438.72px;white-space:nowrap">Shares</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:40px;left:4092.36px;white-space:nowrap">Market</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:4133.72px;letter-spacing:-0.58px;white-space:nowrap">Value</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:486.88px;left:1007px;white-space:nowrap">COMMON STOCKS (Continued)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:681.75px;left:1007px;white-space:nowrap">Automotive: Parts and Accessories (Continued)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:0px;letter-spacing:-5px;white-space:nowrap">			105,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:1007px;white-space:nowrap">Standard Motor Products Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:2964.12px;letter-spacing:51.24px;white-space:nowrap">........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:3815px;letter-spacing:-4px;white-space:nowrap">	$		2,617,650&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			27,600&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:1007px;white-space:nowrap">Strattec Security Corp.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:2519.32px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,089,096&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:0px;letter-spacing:-5px;white-space:nowrap">			100,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:1007px;white-space:nowrap">Superior Industries International Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:3408.92px;letter-spacing:55.04px;white-space:nowrap">...</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:3815px;letter-spacing:-5px;white-space:nowrap">			213,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			88,004,494&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1750.5px;left:1007px;white-space:nowrap">Entertainment&#160;&#8212; 4.5%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1945.38px;left:0px;letter-spacing:-5px;white-space:nowrap">			118,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1945.38px;left:1007px;white-space:nowrap">Atlanta Braves Holdings Inc., Cl.&#160;A&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1945.38px;left:3319.96px;letter-spacing:53.52px;white-space:nowrap">....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1945.38px;left:3815px;letter-spacing:-4px;white-space:nowrap">			5,176,660&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2140.26px;left:0px;letter-spacing:-5px;white-space:nowrap">			269,162&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2140.26px;left:1007px;white-space:nowrap">Atlanta Braves Holdings Inc., Cl.&#160;C&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2140.26px;left:3319.96px;letter-spacing:53.52px;white-space:nowrap">....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2140.26px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			10,769,172&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2335.14px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			10,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2335.14px;left:1007px;white-space:nowrap">Charter Communications Inc., Cl.&#160;A&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2335.14px;left:3319.96px;letter-spacing:53.52px;white-space:nowrap">....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2335.14px;left:3815px;letter-spacing:-4px;white-space:nowrap">			3,685,300&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2530.02px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			6,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2530.02px;left:1007px;letter-spacing:-0.36px;white-space:nowrap">FactSet Research Systems Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2530.02px;left:2964.12px;letter-spacing:51.24px;white-space:nowrap">........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2530.02px;left:3815px;letter-spacing:-4px;white-space:nowrap">			2,955,160&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2724.89px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			90,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2724.89px;left:1007px;white-space:nowrap">Genting Singapore Ltd. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2724.89px;left:2519.32px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2724.89px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			50,240&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2919.77px;left:0px;letter-spacing:-4px;white-space:nowrap">			1,752,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2919.77px;left:1007px;letter-spacing:-1.32px;white-space:nowrap">Grupo Televisa SAB, ADR </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2919.77px;left:2608.28px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2919.77px;left:3815px;letter-spacing:-4px;white-space:nowrap">			3,066,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3114.65px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			78,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3114.65px;left:1007px;letter-spacing:-1.08px;white-space:nowrap">International Game Technology plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3114.65px;left:3231px;letter-spacing:52.61px;white-space:nowrap">.....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3114.65px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,268,280&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3309.53px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			14,573&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3309.53px;left:1007px;white-space:nowrap">Liberty Media Corp.-Liberty Live, Cl.&#160;A&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3309.53px;left:3497.88px;letter-spacing:58.08px;white-space:nowrap">..</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3309.53px;left:3815px;letter-spacing:-5px;white-space:nowrap">			979,889&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3504.41px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			61,927&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3504.41px;left:1007px;white-space:nowrap">Liberty Media Corp.-Liberty Live, Cl.&#160;C&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3504.41px;left:3497.88px;letter-spacing:58.08px;white-space:nowrap">..</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3504.41px;left:3815px;letter-spacing:-4px;white-space:nowrap">			4,219,706&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3699.28px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			15,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3699.28px;left:1007px;white-space:nowrap">Lions Gate Entertainment Corp., Cl.&#160;B&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3699.28px;left:3497.88px;letter-spacing:58.08px;white-space:nowrap">..</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3699.28px;left:3815px;letter-spacing:-5px;white-space:nowrap">			118,800&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3894.16px;left:0px;letter-spacing:-5px;white-space:nowrap">			114,174&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3894.16px;left:1007px;white-space:nowrap">Madison Square Garden Entertainment </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4086.16px;left:1151px;white-space:nowrap">Corp.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4086.16px;left:1629.72px;letter-spacing:49.75px;white-space:nowrap">.......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4086.16px;left:3815px;letter-spacing:-4px;white-space:nowrap">			3,738,057&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4281.04px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			95,767&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4281.04px;left:1007px;white-space:nowrap">Madison Square Garden Sports Corp.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4281.04px;left:3497.88px;letter-spacing:58.08px;white-space:nowrap">..</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4281.04px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			18,647,750&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4475.92px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			1,850&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4475.92px;left:1007px;text-rendering:optimizeLegibility;white-space:nowrap">Netflix Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4475.92px;left:1807.64px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4475.92px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,725,180&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4670.8px;left:0px;letter-spacing:-5px;white-space:nowrap">			383,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4670.8px;left:1007px;letter-spacing:0.02px;white-space:nowrap">Ollamani SAB&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4670.8px;left:1985.56px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4670.8px;left:3815px;letter-spacing:-5px;white-space:nowrap">			851,361&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4865.67px;left:0px;letter-spacing:-5px;white-space:nowrap">			356,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4865.67px;left:1007px;white-space:nowrap">Paramount Global, Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4865.67px;left:2519.32px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4865.67px;left:3815px;letter-spacing:-4px;white-space:nowrap">			8,099,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5060.55px;left:0px;letter-spacing:-5px;white-space:nowrap">			141,974&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5060.55px;left:1007px;white-space:nowrap">Sphere Entertainment Co.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5060.55px;left:2786.2px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5060.55px;left:3815px;letter-spacing:-4px;white-space:nowrap">			4,645,389&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5255.43px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			11,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5255.43px;left:1007px;letter-spacing:-2.63px;white-space:nowrap">Take-Two Interactive Software Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5255.43px;left:3319.96px;letter-spacing:53.52px;white-space:nowrap">....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5255.43px;left:3815px;letter-spacing:-4px;white-space:nowrap">			2,279,750&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5450.31px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			40,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5450.31px;left:1007px;white-space:nowrap">TBS Holdings Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5450.31px;left:2163.48px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5450.31px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,137,142&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5645.18px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			64,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5645.18px;left:1007px;letter-spacing:-0.58px;white-space:nowrap">The Walt Disney Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5645.18px;left:2341.4px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5645.18px;left:3815px;letter-spacing:-4px;white-space:nowrap">			6,336,540&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5840.06px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			8,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5840.06px;left:1007px;white-space:nowrap">TKO Group Holdings Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5840.06px;left:2608.28px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5840.06px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,222,480&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6034.94px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			58,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6034.94px;left:1007px;white-space:nowrap">Universal Entertainment Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6034.94px;left:2964.12px;letter-spacing:51.24px;white-space:nowrap">........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6034.94px;left:3815px;letter-spacing:-5px;white-space:nowrap">			408,734&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6229.82px;left:0px;letter-spacing:-5px;white-space:nowrap">			839,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6229.82px;left:1007px;white-space:nowrap">Vivendi SE </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6229.82px;left:1718.68px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6229.82px;left:3815px;letter-spacing:-4px;white-space:nowrap">			2,501,180&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6424.7px;left:0px;letter-spacing:-5px;white-space:nowrap">			378,750&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6424.7px;left:1007px;letter-spacing:-0.41px;white-space:nowrap">Warner Bros Discovery Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6424.7px;left:2875.16px;letter-spacing:50.99px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6424.7px;left:3815px;letter-spacing:-4px;white-space:nowrap">			4,063,987&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6619.57px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			87,945,757&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6908.81px;left:1007px;white-space:nowrap">Energy and Utilities&#160;&#8212; 4.2%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7103.69px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			57,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7103.69px;left:1007px;letter-spacing:-1.48px;white-space:nowrap">APA Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7103.69px;left:1718.68px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7103.69px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,208,650&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7298.57px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			40,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7298.57px;left:1007px;white-space:nowrap">Baker Hughes Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7298.57px;left:2163.48px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7298.57px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,758,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7493.45px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			21,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7493.45px;left:1007px;white-space:nowrap">BP plc, ADR </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7493.45px;left:1807.64px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7493.45px;left:3815px;letter-spacing:-5px;white-space:nowrap">			709,590&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7688.32px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			16,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7688.32px;left:1007px;white-space:nowrap">CMS Energy Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7688.32px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7688.32px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,201,760&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7883.2px;left:0px;letter-spacing:-5px;white-space:nowrap">			156,100&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7883.2px;left:1007px;letter-spacing:0.01px;white-space:nowrap">ConocoPhillips </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7883.2px;left:1985.56px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7883.2px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			16,393,622&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8078.08px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			98,400&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8078.08px;left:1007px;white-space:nowrap">Enbridge Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8078.08px;left:1896.6px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8078.08px;left:3815px;letter-spacing:-4px;white-space:nowrap">			4,360,104&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8272.96px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			71,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8272.96px;left:1007px;letter-spacing:-1.32px;white-space:nowrap">Energy Transfer LP </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8272.96px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8272.96px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,319,890&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8467.84px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			61,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8467.84px;left:1007px;white-space:nowrap">Enterprise Products Partners LP </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8467.84px;left:3053.08px;letter-spacing:51.57px;white-space:nowrap">.......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8467.84px;left:3815px;letter-spacing:-4px;white-space:nowrap">			2,082,540&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8662.71px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			23,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8662.71px;left:1007px;white-space:nowrap">Essential Utilities Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8662.71px;left:2430.36px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8662.71px;left:3815px;letter-spacing:-5px;white-space:nowrap">			909,190&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8857.59px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			34,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8857.59px;left:1007px;white-space:nowrap">Evergy Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8857.59px;left:1718.68px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8857.59px;left:3815px;letter-spacing:-4px;white-space:nowrap">			2,344,300&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9052.47px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			20,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9052.47px;left:1007px;letter-spacing:-0.29px;white-space:nowrap">Eversource Energy </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9052.47px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9052.47px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,242,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9247.35px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			38,600&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9247.35px;left:1007px;white-space:nowrap">Exxon Mobil Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9247.35px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9247.35px;left:3815px;letter-spacing:-4px;white-space:nowrap">			4,590,698&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9442.23px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			1,375&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9442.23px;left:1007px;letter-spacing:-0.36px;white-space:nowrap">GE Vernova Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9442.23px;left:2074.52px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9442.23px;left:3815px;letter-spacing:-5px;white-space:nowrap">			419,760&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9637.1px;left:0px;letter-spacing:-5px;white-space:nowrap">			223,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9637.1px;left:1007px;letter-spacing:0.01px;white-space:nowrap">Halliburton Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9637.1px;left:1985.56px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9637.1px;left:3815px;letter-spacing:-4px;white-space:nowrap">			5,657,510&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9831.98px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			10,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9831.98px;left:1007px;white-space:nowrap">Innovex International Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9831.98px;left:2697.24px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9831.98px;left:3815px;letter-spacing:-5px;white-space:nowrap">			179,600&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10026.86px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			25,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10026.86px;left:1007px;letter-spacing:0.02px;white-space:nowrap">Kimbell Royalty Partners LP </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10026.86px;left:2786.2px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10026.86px;left:3815px;letter-spacing:-5px;white-space:nowrap">			350,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10221.74px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			15,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10221.74px;left:1007px;white-space:nowrap">Kinder Morgan Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10221.74px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10221.74px;left:3815px;letter-spacing:-5px;white-space:nowrap">			427,950&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10416.61px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			7,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10416.61px;left:1007px;white-space:nowrap">Marathon Petroleum Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10416.61px;left:2697.24px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10416.61px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,048,968&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:5449.92px;white-space:nowrap">Shares</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:40px;left:9103.56px;white-space:nowrap">Market</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:9144.92px;letter-spacing:-0.58px;white-space:nowrap">Value</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:486.88px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			123,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:486.88px;left:6018.2px;white-space:nowrap">National Fuel Gas Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:486.88px;left:7441.56px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:486.88px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">	$		9,740,370&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			50,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:6018.2px;white-space:nowrap">New Fortress Energy Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:7619.48px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			415,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			65,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:6018.2px;white-space:nowrap">NextEra Energy Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:7263.64px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			4,607,850&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			4,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:6018.2px;letter-spacing:-0.32px;white-space:nowrap">Niko Resources Ltd.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:7441.56px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:8826.2px;letter-spacing:-20px;white-space:nowrap">			0&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			2,779&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:6018.2px;white-space:nowrap">Noble Corp. plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:6996.76px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			65,862&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			18,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:6018.2px;white-space:nowrap">NOV Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:6640.92px;letter-spacing:49.75px;white-space:nowrap">.......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			273,960&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			10,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:6018.2px;white-space:nowrap">Occidental Petroleum Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:7797.4px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			493,600&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			55,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:6018.2px;white-space:nowrap">Oceaneering International Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:8064.28px;letter-spacing:51.57px;white-space:nowrap">.......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,199,550&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			15,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:6018.2px;white-space:nowrap">PG&amp;E Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:6818.84px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			257,700&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			9,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:6018.2px;letter-spacing:0.02px;white-space:nowrap">Phillips 66 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:6729.88px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,111,320&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2435.66px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			35,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2435.66px;left:6018.2px;white-space:nowrap">Portland General Electric Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2435.66px;left:7886.36px;letter-spacing:50.99px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2435.66px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,561,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2630.53px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			70,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2630.53px;left:6018.2px;white-space:nowrap">RPC Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2630.53px;left:6640.92px;letter-spacing:49.75px;white-space:nowrap">.......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2630.53px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			385,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2825.41px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			116,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2825.41px;left:6018.2px;white-space:nowrap">Schlumberger NV </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2825.41px;left:7174.68px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2825.41px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			4,869,700&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3020.29px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			5,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3020.29px;left:6018.2px;white-space:nowrap">Sempra </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3020.29px;left:6551.96px;letter-spacing:49.72px;white-space:nowrap">........................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3020.29px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			356,800&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3215.17px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			2,450&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3215.17px;left:6018.2px;letter-spacing:-1.97px;white-space:nowrap">Severn Trent plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3215.17px;left:7085.72px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3215.17px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			80,101&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3410.05px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			17,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3410.05px;left:6018.2px;white-space:nowrap">Southwest Gas Holdings Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3410.05px;left:7886.36px;letter-spacing:50.99px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3410.05px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,220,600&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3604.92px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			101,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3604.92px;left:6018.2px;white-space:nowrap">The AES Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3604.92px;left:6996.76px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3604.92px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,254,420&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3799.8px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			37,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3799.8px;left:6018.2px;white-space:nowrap">TXNM Energy Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3799.8px;left:7174.68px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3799.8px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			2,005,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3994.68px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			46,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3994.68px;left:6018.2px;white-space:nowrap">UGI Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3994.68px;left:6640.92px;letter-spacing:49.75px;white-space:nowrap">.......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3994.68px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,521,220&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4189.56px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			94,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4189.56px;left:6018.2px;letter-spacing:-0.36px;white-space:nowrap">Venture Global Inc., Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4189.56px;left:7619.48px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4189.56px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			973,350&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4384.44px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			31,050&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4384.44px;left:6018.2px;white-space:nowrap">Vitesse Energy Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4384.44px;left:7263.64px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4384.44px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			763,520&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4579.31px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			3,300&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4579.31px;left:6018.2px;letter-spacing:0.03px;white-space:nowrap">Weatherford International plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4579.31px;left:7886.36px;letter-spacing:50.99px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4579.31px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			176,715&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4774.19px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			202,238&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4774.19px;left:6018.2px;white-space:nowrap">XPLR Infrastructure LP </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4774.19px;left:7530.52px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4774.19px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,921,261&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4969.07px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			81,459,231&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5258.31px;left:6018.2px;white-space:nowrap">Health Care&#160;&#8212; 4.2%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5453.18px;left:5011.2px;letter-spacing:-10px;white-space:nowrap">			563&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5453.18px;left:6018.2px;white-space:nowrap">AbbVie Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5453.18px;left:6818.84px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5453.18px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			117,960&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5648.06px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			14,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5648.06px;left:6018.2px;white-space:nowrap">Alcon AG </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5648.06px;left:6640.92px;letter-spacing:49.75px;white-space:nowrap">.......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5648.06px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,329,020&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5842.94px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			24,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5842.94px;left:6018.2px;white-space:nowrap">Amgen Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5842.94px;left:6818.84px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5842.94px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			7,632,975&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6037.82px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			12,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6037.82px;left:6018.2px;white-space:nowrap">Bausch + Lomb Corp.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6037.82px;left:7530.52px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6037.82px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			174,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6232.7px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			20,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6232.7px;left:6018.2px;white-space:nowrap">Baxter International Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6232.7px;left:7530.52px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6232.7px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			684,600&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6427.57px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			1,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6427.57px;left:6018.2px;white-space:nowrap">Becton Dickinson &amp; Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6427.57px;left:7530.52px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6427.57px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			343,590&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6622.45px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			7,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6622.45px;left:6018.2px;white-space:nowrap">Biogen Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6622.45px;left:6818.84px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6622.45px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			957,880&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6817.33px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			14,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6817.33px;left:6018.2px;white-space:nowrap">BioMarin Pharmaceutical Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6817.33px;left:7975.32px;letter-spacing:51.24px;white-space:nowrap">........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6817.33px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,025,005&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7012.21px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			2,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7012.21px;left:6018.2px;white-space:nowrap">Bio-Rad Laboratories Inc., Cl.&#160;A&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7012.21px;left:8153.24px;letter-spacing:52px;white-space:nowrap">......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7012.21px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			608,900&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7207.09px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			64,900&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7207.09px;left:6018.2px;white-space:nowrap">Boston Scientific Corp.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7207.09px;left:7619.48px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7207.09px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			6,547,112&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7401.96px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			84,700&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7401.96px;left:6018.2px;white-space:nowrap">Bristol-Myers Squibb Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7401.96px;left:7619.48px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7401.96px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			5,165,853&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7596.84px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			6,365&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7596.84px;left:6018.2px;white-space:nowrap">Cencora Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7596.84px;left:6818.84px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7596.84px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,770,043&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7791.72px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			1,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7791.72px;left:6018.2px;white-space:nowrap">Chemed Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7791.72px;left:6996.76px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7791.72px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			615,320&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7986.6px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			12,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7986.6px;left:6018.2px;white-space:nowrap">CVS Group plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7986.6px;left:6996.76px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7986.6px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			155,630&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8181.48px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			240,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8181.48px;left:6018.2px;white-space:nowrap">Demant A/S&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8181.48px;left:6907.8px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8181.48px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			8,042,147&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8376.35px;left:5011.2px;letter-spacing:-10px;white-space:nowrap">			470&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8376.35px;left:6018.2px;white-space:nowrap">Eli Lilly &amp; Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8376.35px;left:6907.8px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8376.35px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			388,178&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8571.23px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			2,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8571.23px;left:6018.2px;white-space:nowrap">Enovis Corp.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8571.23px;left:6907.8px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8571.23px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			76,420&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8766.11px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			13,800&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8766.11px;left:6018.2px;white-space:nowrap">Evolent Health Inc., Cl.&#160;A&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8766.11px;left:7708.44px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8766.11px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			130,686&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8960.99px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			10,650&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8960.99px;left:6018.2px;white-space:nowrap">Exact Sciences Corp.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8960.99px;left:7441.56px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8960.99px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			461,038&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9155.87px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			3,100&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9155.87px;left:6018.2px;white-space:nowrap">Fresenius SE &amp; Co. KGaA&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9155.87px;left:7708.44px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9155.87px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			131,969&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9350.74px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			1,390&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9350.74px;left:6018.2px;white-space:nowrap">Gerresheimer AG </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9350.74px;left:7174.68px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9350.74px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			105,286&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9545.62px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			2,800&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9545.62px;left:6018.2px;white-space:nowrap">Gilead Sciences Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9545.62px;left:7352.6px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9545.62px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			313,740&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9740.5px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			3,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9740.5px;left:6018.2px;white-space:nowrap">Glaukos Corp.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9740.5px;left:6996.76px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9740.5px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			295,260&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9935.38px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			25,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9935.38px;left:6018.2px;white-space:nowrap">Haleon plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9935.38px;left:6729.88px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9935.38px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			126,365&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10130.26px;left:5011.2px;letter-spacing:-10px;white-space:nowrap">			100&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10130.26px;left:6018.2px;white-space:nowrap">HCA Healthcare Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10130.26px;left:7352.6px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10130.26px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			34,555&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10325.13px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			59,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10325.13px;left:6018.2px;letter-spacing:0.48px;white-space:nowrap">Henry Schein Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10325.13px;left:7263.64px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10325.13px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			4,040,910&#8204;</div></div>
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		<div style="height:12.40px;left:0px;position:absolute;top:0px;transform:translate(25.200px,612.233px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:489.60px">
			<div style="width:9792px;height:142.8px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,2.92px) rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:170px;position:absolute;top:-6.75px;left:4845.96px;white-space:nowrap">4</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:230px;font-weight:bold;position:absolute;top:-9px;left:0px;letter-spacing:-3.2px;white-space:nowrap">The Gabelli Equity Trust Inc.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:230px;font-weight:bold;position:absolute;top:279px;left:0px;letter-spacing:-2.4px;white-space:nowrap">Schedule of Investments (Continued) &#8212; March 31, 2025 (Unaudited)</div></div>
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rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:491.71px">
			<div style="width:9792px;height:10582.27px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,1.5px) rotate(0deg) scale(0.05)">











































































































































































































































































































































			<div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:438.72px;white-space:nowrap">Shares</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:40px;left:4092.36px;white-space:nowrap">Market</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:4133.72px;letter-spacing:-0.58px;white-space:nowrap">Value</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:486.88px;left:1007px;white-space:nowrap">COMMON STOCKS (Continued)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:681.75px;left:1007px;white-space:nowrap">Health Care (Continued)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:0px;letter-spacing:-10px;white-space:nowrap">			700&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:1007px;white-space:nowrap">Hims &amp; Hers Health Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:2697.24px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">	$		20,685&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			5,597&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:1007px;white-space:nowrap">Incyte Corp.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:1896.6px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:3815px;letter-spacing:-5px;white-space:nowrap">			338,898&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			9,360&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:1007px;white-space:nowrap">Indivior plc&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:1807.64px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			87,719&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:0px;letter-spacing:-10px;white-space:nowrap">			555&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:1007px;white-space:nowrap">Intuitive Surgical Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:2430.36px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:3815px;letter-spacing:-5px;white-space:nowrap">			274,875&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			24,100&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:1007px;white-space:nowrap">Johnson &amp; Johnson </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:2341.4px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:3815px;letter-spacing:-4px;white-space:nowrap">			3,996,744&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			72,405&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:1007px;letter-spacing:-0.53px;white-space:nowrap">Merck &amp; Co. Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:2074.52px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:3815px;letter-spacing:-4px;white-space:nowrap">			6,499,073&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			69,900&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:1007px;white-space:nowrap">Novartis AG, ADR </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:2163.48px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:3815px;letter-spacing:-4px;white-space:nowrap">			7,792,452&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			40,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:1007px;white-space:nowrap">Option Care Health Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:2608.28px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,398,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2435.66px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			31,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2435.66px;left:1007px;white-space:nowrap">Perrigo Co. plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2435.66px;left:1985.56px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2435.66px;left:3815px;letter-spacing:-5px;white-space:nowrap">			883,260&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2630.53px;left:0px;letter-spacing:-5px;white-space:nowrap">			116,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2630.53px;left:1007px;text-rendering:optimizeLegibility;white-space:nowrap">Pfizer Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2630.53px;left:1718.68px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2630.53px;left:3815px;letter-spacing:-4px;white-space:nowrap">			2,952,110&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2825.41px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			6,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2825.41px;left:1007px;white-space:nowrap">QuidelOrtho Corp.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2825.41px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2825.41px;left:3815px;letter-spacing:-5px;white-space:nowrap">			227,305&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3020.29px;left:0px;letter-spacing:-10px;white-space:nowrap">			400&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3020.29px;left:1007px;white-space:nowrap">Roche Holding AG, Genusschein </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3020.29px;left:3053.08px;letter-spacing:51.57px;white-space:nowrap">.......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3020.29px;left:3815px;letter-spacing:-5px;white-space:nowrap">			131,344&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3215.17px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			15,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3215.17px;left:1007px;white-space:nowrap">Sandoz Group AG, ADR </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3215.17px;left:2519.32px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3215.17px;left:3815px;letter-spacing:-5px;white-space:nowrap">			649,760&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3410.05px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			2,100&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3410.05px;left:1007px;text-rendering:optimizeLegibility;white-space:nowrap">Sanofi SA </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3410.05px;left:1629.72px;letter-spacing:49.75px;white-space:nowrap">.......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3410.05px;left:3815px;letter-spacing:-5px;white-space:nowrap">			231,433&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3604.92px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			9,750&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3604.92px;left:1007px;white-space:nowrap">Smith &amp; Nephew plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3604.92px;left:2341.4px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3604.92px;left:3815px;letter-spacing:-5px;white-space:nowrap">			136,651&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3799.8px;left:0px;letter-spacing:-10px;white-space:nowrap">			690&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3799.8px;left:1007px;letter-spacing:0.36px;white-space:nowrap">Stryker Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3799.8px;left:1896.6px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3799.8px;left:3815px;letter-spacing:-5px;white-space:nowrap">			256,852&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3994.68px;left:0px;letter-spacing:-10px;white-space:nowrap">			335&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3994.68px;left:1007px;letter-spacing:-1.97px;white-space:nowrap">Tenet Healthcare Corp.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3994.68px;left:2519.32px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3994.68px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			45,057&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4189.56px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			2,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4189.56px;left:1007px;white-space:nowrap">The Cigna Group </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4189.56px;left:2074.52px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4189.56px;left:3815px;letter-spacing:-5px;white-space:nowrap">			658,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4384.44px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			15,700&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4384.44px;left:1007px;letter-spacing:-1.48px;white-space:nowrap">Tristel plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4384.44px;left:1629.72px;letter-spacing:49.75px;white-space:nowrap">.......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4384.44px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			59,827&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4579.31px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			17,450&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4579.31px;left:1007px;white-space:nowrap">UnitedHealth Group Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4579.31px;left:2608.28px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4579.31px;left:3815px;letter-spacing:-4px;white-space:nowrap">			9,139,438&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4774.19px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			11,996&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4774.19px;left:1007px;letter-spacing:-0.29px;white-space:nowrap">Valeritas Holdings Inc.&#8224;(a) </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4774.19px;left:2697.24px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4774.19px;left:3815px;letter-spacing:-20px;white-space:nowrap">			0&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4969.07px;left:0px;letter-spacing:-13.33px;white-space:nowrap">			80&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4969.07px;left:1007px;letter-spacing:-0.41px;white-space:nowrap">Vertex Pharmaceuticals Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4969.07px;left:2875.16px;letter-spacing:50.99px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4969.07px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			38,786&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5163.95px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			4,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5163.95px;left:1007px;letter-spacing:-0.41px;white-space:nowrap">Waters Corp.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5163.95px;left:1985.56px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5163.95px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,474,280&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5358.82px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			2,400&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5358.82px;left:1007px;letter-spacing:-0.36px;white-space:nowrap">Waystar Holding Corp.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5358.82px;left:2519.32px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5358.82px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			89,664&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5553.7px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			12,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5553.7px;left:1007px;white-space:nowrap">Zimmer Biomet Holdings Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5553.7px;left:2875.16px;letter-spacing:50.99px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5553.7px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,358,160&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5748.58px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			20,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5748.58px;left:1007px;white-space:nowrap">Zimvie Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5748.58px;left:1807.64px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5748.58px;left:3815px;letter-spacing:-5px;white-space:nowrap">			216,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5943.46px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			5,700&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5943.46px;left:1007px;white-space:nowrap">Zoetis Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5943.46px;left:1718.68px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5943.46px;left:3815px;letter-spacing:-5px;white-space:nowrap">			938,505&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6138.34px;left:0px;letter-spacing:-10px;white-space:nowrap">			608&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6138.34px;left:1007px;white-space:nowrap">Zosano Pharma Corp.&#8224;(a) </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6138.34px;left:2697.24px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6138.34px;left:3815px;letter-spacing:-20px;white-space:nowrap">			0&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6333.21px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			81,169,320&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6622.45px;left:1007px;letter-spacing:0.32px;white-space:nowrap">Machinery&#160;&#8212; 3.9%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6817.33px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			24,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6817.33px;left:1007px;white-space:nowrap">Astec Industries Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6817.33px;left:2341.4px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6817.33px;left:3815px;letter-spacing:-5px;white-space:nowrap">			833,690&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7012.21px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			12,800&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7012.21px;left:1007px;letter-spacing:0.01px;white-space:nowrap">Caterpillar Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7012.21px;left:1985.56px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7012.21px;left:3815px;letter-spacing:-4px;white-space:nowrap">			4,221,440&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7207.09px;left:0px;letter-spacing:-5px;white-space:nowrap">			435,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7207.09px;left:1007px;white-space:nowrap">CNH Industrial NV </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7207.09px;left:2163.48px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7207.09px;left:3815px;letter-spacing:-4px;white-space:nowrap">			5,341,800&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7401.96px;left:0px;letter-spacing:-5px;white-space:nowrap">			103,600&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7401.96px;left:1007px;white-space:nowrap">Deere &amp; Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7401.96px;left:1807.64px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7401.96px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			48,624,660&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7596.84px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			24,942&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7596.84px;left:1007px;white-space:nowrap">Intevac Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7596.84px;left:1807.64px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7596.84px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			99,768&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7791.72px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			6,688&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7791.72px;left:1007px;white-space:nowrap">Regal Rexnord Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7791.72px;left:2341.4px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7791.72px;left:3815px;letter-spacing:-5px;white-space:nowrap">			761,429&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7986.6px;left:0px;letter-spacing:-5px;white-space:nowrap">			128,700&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7986.6px;left:1007px;white-space:nowrap">Xylem Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7986.6px;left:1718.68px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7986.6px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			15,374,502&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8181.48px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			75,257,289&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8470.71px;left:1007px;white-space:nowrap">Business Services&#160;&#8212; 3.8%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8665.59px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			8,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8665.59px;left:1007px;letter-spacing:0.02px;white-space:nowrap">Allegion plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8665.59px;left:1807.64px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8665.59px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,043,680&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8860.47px;left:0px;letter-spacing:-5px;white-space:nowrap">			550,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8860.47px;left:1007px;white-space:nowrap">Clear Channel Outdoor Holdings Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8860.47px;left:3408.92px;letter-spacing:55.04px;white-space:nowrap">...</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8860.47px;left:3815px;letter-spacing:-5px;white-space:nowrap">			610,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9055.35px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			2,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9055.35px;left:1007px;white-space:nowrap">Edenred SE </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9055.35px;left:1807.64px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9055.35px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			80,935&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9250.23px;left:0px;letter-spacing:-5px;white-space:nowrap">			579,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9250.23px;left:1007px;white-space:nowrap">Havas NV&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9250.23px;left:1718.68px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9250.23px;left:3815px;letter-spacing:-5px;white-space:nowrap">			823,286&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9445.1px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			16,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9445.1px;left:1007px;white-space:nowrap">Jardine Matheson Holdings Ltd. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9445.1px;left:3053.08px;letter-spacing:51.57px;white-space:nowrap">.......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9445.1px;left:3815px;letter-spacing:-5px;white-space:nowrap">			677,760&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9639.98px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			11,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9639.98px;left:1007px;white-space:nowrap">Lamar Advertising Co., Cl.&#160;A, REIT </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9639.98px;left:3231px;letter-spacing:52.61px;white-space:nowrap">.....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9639.98px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,251,580&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9834.86px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			97,930&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9834.86px;left:1007px;letter-spacing:-0.29px;white-space:nowrap">Mastercard Inc., Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9834.86px;left:2430.36px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9834.86px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			53,677,391&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10029.74px;left:0px;letter-spacing:-5px;white-space:nowrap">			120,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10029.74px;left:1007px;white-space:nowrap">Paysafe Ltd.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10029.74px;left:1896.6px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10029.74px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,882,800&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10224.61px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			10,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10224.61px;left:1007px;white-space:nowrap">Pitney Bowes Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10224.61px;left:2163.48px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10224.61px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			90,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10419.49px;left:0px;letter-spacing:-5px;white-space:nowrap">			145,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10419.49px;left:1007px;letter-spacing:-0.91px;white-space:nowrap">Resideo Technologies Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10419.49px;left:2786.2px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10419.49px;left:3815px;letter-spacing:-4px;white-space:nowrap">			2,575,350&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:5449.92px;white-space:nowrap">Shares</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:40px;left:9103.56px;white-space:nowrap">Market</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:9144.92px;letter-spacing:-0.58px;white-space:nowrap">Value</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:486.88px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			12,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:486.88px;left:6018.2px;white-space:nowrap">The Brink&#39;s Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:486.88px;left:6996.76px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:486.88px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">	$		1,033,920&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			100,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:6018.2px;white-space:nowrap">The Interpublic Group of Companies Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:8598.04px;letter-spacing:67.2px;white-space:nowrap">.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			2,716,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			29,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:6018.2px;white-space:nowrap">UL Solutions Inc., Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:7530.52px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,635,600&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			78,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:6018.2px;letter-spacing:-0.41px;white-space:nowrap">Vestis Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:6818.84px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			772,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			13,100&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:6018.2px;white-space:nowrap">Visa Inc., Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:6996.76px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			4,591,026&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			5,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:6018.2px;letter-spacing:0.02px;white-space:nowrap">Willdan Group Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:7352.6px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			203,600&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			73,666,128&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1945.38px;left:6018.2px;white-space:nowrap">Environmental Services&#160;&#8212; 3.3%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2140.26px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			30,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2140.26px;left:6018.2px;white-space:nowrap">Pentair plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2140.26px;left:6729.88px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2140.26px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			2,624,400&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2335.14px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			178,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2335.14px;left:6018.2px;white-space:nowrap">Republic Services Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2335.14px;left:7441.56px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2335.14px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			43,152,912&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2530.02px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			15,620&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2530.02px;left:6018.2px;letter-spacing:-0.41px;white-space:nowrap">Veolia Environnement SA </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2530.02px;left:7619.48px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2530.02px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			536,254&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2724.89px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			71,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2724.89px;left:6018.2px;letter-spacing:-0.48px;white-space:nowrap">Waste Management Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2724.89px;left:7619.48px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2724.89px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			16,552,965&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2919.77px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			29,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2919.77px;left:6018.2px;letter-spacing:-0.48px;white-space:nowrap">Zurn Elkay Water Solutions Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2919.77px;left:8153.24px;letter-spacing:52px;white-space:nowrap">......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2919.77px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			956,420&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3114.65px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			63,822,951&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3403.89px;left:6018.2px;white-space:nowrap">Retail&#160;&#8212; 3.0%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3598.77px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			205,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3598.77px;left:6018.2px;white-space:nowrap">Arko Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3598.77px;left:6729.88px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3598.77px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			809,750&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3793.64px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			41,400&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3793.64px;left:6018.2px;white-space:nowrap">AutoNation Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3793.64px;left:7085.72px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3793.64px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			6,703,488&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3988.52px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			51,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3988.52px;left:6018.2px;white-space:nowrap">BBB Foods Inc., Cl.&#160;A&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3988.52px;left:7441.56px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3988.52px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,360,680&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4183.4px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			3,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4183.4px;left:6018.2px;white-space:nowrap">Beacon Roofing Supply Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4183.4px;left:7886.36px;letter-spacing:50.99px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4183.4px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			432,950&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4378.28px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			7,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4378.28px;left:6018.2px;white-space:nowrap">Casey&#39;s General Stores Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4378.28px;left:7797.4px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4378.28px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			3,038,280&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4573.15px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			3,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4573.15px;left:6018.2px;white-space:nowrap">Chipotle Mexican Grill Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4573.15px;left:7797.4px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4573.15px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			175,735&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4768.03px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			10,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4768.03px;left:6018.2px;white-space:nowrap">Copart Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4768.03px;left:6818.84px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4768.03px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			565,900&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4962.91px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			27,660&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4962.91px;left:6018.2px;white-space:nowrap">Costco Wholesale Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4962.91px;left:7530.52px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4962.91px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			26,160,275&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5157.79px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			61,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5157.79px;left:6018.2px;white-space:nowrap">CVS Health Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5157.79px;left:7174.68px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5157.79px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			4,166,625&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5352.67px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			11,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5352.67px;left:6018.2px;white-space:nowrap">Lowe&#39;s Companies Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5352.67px;left:7530.52px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5352.67px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			2,565,530&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5547.54px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			95,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5547.54px;left:6018.2px;white-space:nowrap">Macy&#39;s Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5547.54px;left:6818.84px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5547.54px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,193,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5742.42px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			27,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5742.42px;left:6018.2px;letter-spacing:0.03px;white-space:nowrap">Sally Beauty Holdings Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5742.42px;left:7797.4px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5742.42px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			243,810&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5937.3px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			6,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5937.3px;left:6018.2px;white-space:nowrap">Shake Shack Inc., Cl.&#160;A&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5937.3px;left:7619.48px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5937.3px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			529,020&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6132.18px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			94,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6132.18px;left:6018.2px;letter-spacing:-0.36px;white-space:nowrap">The Wendy&#39;s Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6132.18px;left:7085.72px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6132.18px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,375,220&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6327.06px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			30,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6327.06px;left:6018.2px;letter-spacing:-0.29px;white-space:nowrap">Walgreens Boots Alliance Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6327.06px;left:7975.32px;letter-spacing:51.24px;white-space:nowrap">........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6327.06px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			335,100&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6521.93px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			90,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6521.93px;left:6018.2px;letter-spacing:-0.36px;white-space:nowrap">Walmart Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6521.93px;left:6907.8px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6521.93px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			7,901,100&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6716.81px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			57,556,663&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7006.05px;left:6018.2px;white-space:nowrap">Consumer Services&#160;&#8212; 2.9%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7200.93px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			5,900&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7200.93px;left:6018.2px;white-space:nowrap">Amazon.com Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7200.93px;left:7263.64px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7200.93px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,122,534&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7395.81px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			45,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7395.81px;left:6018.2px;white-space:nowrap">API Group Corp.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7395.81px;left:7174.68px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7395.81px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,609,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7590.68px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			393,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7590.68px;left:6018.2px;letter-spacing:0.02px;white-space:nowrap">Bollore SE </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7590.68px;left:6729.88px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7590.68px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			2,297,654&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7785.56px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			2,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7785.56px;left:6018.2px;white-space:nowrap">Deutsche Post AG </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7785.56px;left:7174.68px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7785.56px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			85,380&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7980.44px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			35,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7980.44px;left:6018.2px;white-space:nowrap">IAC Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7980.44px;left:6640.92px;letter-spacing:49.75px;white-space:nowrap">.......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7980.44px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,607,900&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8175.32px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			58,900&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8175.32px;left:6018.2px;white-space:nowrap">Matthews International Corp., Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8175.32px;left:8242.2px;letter-spacing:52.61px;white-space:nowrap">.....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8175.32px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,309,936&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8370.2px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			880,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8370.2px;left:6018.2px;letter-spacing:0.02px;white-space:nowrap">Rollins Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8370.2px;left:6729.88px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8370.2px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			47,546,400&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8565.07px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			3,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8565.07px;left:6018.2px;letter-spacing:-1.69px;white-space:nowrap">Travel + Leisure Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8565.07px;left:7263.64px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8565.07px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			148,128&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8759.95px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			55,727,132&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9049.19px;left:6018.2px;white-space:nowrap">Aerospace and Defense&#160;&#8212; 2.8%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9244.07px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			1,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9244.07px;left:6018.2px;white-space:nowrap">Airbus SE </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9244.07px;left:6640.92px;letter-spacing:49.75px;white-space:nowrap">.......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9244.07px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			176,014&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9438.94px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			10,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9438.94px;left:6018.2px;letter-spacing:-0.58px;white-space:nowrap">Avio SpA </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9438.94px;left:6640.92px;letter-spacing:49.75px;white-space:nowrap">.......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9438.94px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			186,416&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9633.82px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			1,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9633.82px;left:6018.2px;white-space:nowrap">Embraer SA, ADR&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9633.82px;left:7263.64px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9633.82px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			46,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9828.7px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			5,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9828.7px;left:6018.2px;white-space:nowrap">Hexcel Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9828.7px;left:6818.84px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9828.7px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			273,800&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10023.58px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			1,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10023.58px;left:6018.2px;white-space:nowrap">Howmet Aerospace Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10023.58px;left:7530.52px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10023.58px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			129,730&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10218.46px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			10,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10218.46px;left:6018.2px;white-space:nowrap">Innovative Solutions and Support Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10218.46px;left:8509.08px;letter-spacing:58.08px;white-space:nowrap">..</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10218.46px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			62,900&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10413.33px;left:5011.2px;letter-spacing:-10px;white-space:nowrap">			200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10413.33px;left:6018.2px;white-space:nowrap">Karman Holdings Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10413.33px;left:7530.52px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10413.33px;left:8826.2px;letter-spacing:-6.67px;white-space:nowrap">			6,684&#8204;</div></div>
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		<div style="height:12.40px;left:0px;position:absolute;top:0px;transform:translate(25.200px,612.233px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:489.60px">
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:170px;position:absolute;top:-6.75px;left:4845.96px;white-space:nowrap">5</div></div>
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		<div style="height:33.73px;left:0px;position:absolute;top:0px;transform:translate(18.200px,24.305px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:489.40px">
			<div style="width:9788px;height:576px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,3.93px) rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, Helvetica, sans-serif;font-size:230px;font-weight:bold;position:absolute;top:-9px;left:0px;letter-spacing:-3.2px;white-space:nowrap">The Gabelli Equity Trust Inc.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:230px;font-weight:bold;position:absolute;top:279px;left:0px;letter-spacing:-2.4px;white-space:nowrap">Schedule of Investments (Continued) &#8212; March 31, 2025 (Unaudited)</div></div>
		</div>
		<div style="background-color:transparent;height:4.50px;left:0px;position:absolute;top:0px;transform:translate(17.999px,57.416px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:489.60px">

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rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:491.71px">
			<div style="width:9792px;height:10582.27px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,1.5px) rotate(0deg) scale(0.05)">


































































































































































































































































































































			<div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:438.72px;white-space:nowrap">Shares</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:40px;left:4092.36px;white-space:nowrap">Market</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:4133.72px;letter-spacing:-0.58px;white-space:nowrap">Value</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:486.88px;left:1007px;white-space:nowrap">COMMON STOCKS (Continued)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:681.75px;left:1007px;white-space:nowrap">Aerospace and Defense (Continued)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			12,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:1007px;white-space:nowrap">Kratos Defense &amp; Security Solutions Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:3815px;letter-spacing:-5px;white-space:nowrap">	$		356,280&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			8,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:1007px;letter-spacing:-0.91px;white-space:nowrap">L3Harris Technologies Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:2697.24px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,674,480&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			1,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:1007px;white-space:nowrap">Lockheed Martin Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:2519.32px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:3815px;letter-spacing:-5px;white-space:nowrap">			446,710&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			17,300&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:1007px;white-space:nowrap">Northrop Grumman Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:2697.24px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:3815px;letter-spacing:-4px;white-space:nowrap">			8,857,773&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:0px;letter-spacing:-4px;white-space:nowrap">			3,305,666&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:1007px;letter-spacing:0.01px;white-space:nowrap">Rolls-Royce Holdings plc&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:2697.24px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			31,983,005&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			2,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:1007px;letter-spacing:-0.72px;white-space:nowrap">RTX Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:1718.68px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:3815px;letter-spacing:-5px;white-space:nowrap">			331,150&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			1,100&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:1007px;white-space:nowrap">Thales SA </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:1718.68px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:3815px;letter-spacing:-5px;white-space:nowrap">			292,124&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			48,900&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:1007px;white-space:nowrap">The Boeing Co.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:2074.52px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:3815px;letter-spacing:-4px;white-space:nowrap">			8,339,895&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2435.66px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			45,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2435.66px;left:1007px;letter-spacing:-1.48px;white-space:nowrap">Triumph Group Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2435.66px;left:2341.4px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2435.66px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,152,970&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2630.53px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			54,316,131&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2919.77px;left:1007px;white-space:nowrap">Consumer Products&#160;&#8212; 2.8%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3114.65px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			34,180&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3114.65px;left:1007px;white-space:nowrap">American Outdoor Brands Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3114.65px;left:3053.08px;letter-spacing:51.57px;white-space:nowrap">.......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3114.65px;left:3815px;letter-spacing:-5px;white-space:nowrap">			415,629&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3309.53px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			12,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3309.53px;left:1007px;white-space:nowrap">Christian Dior SE </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3309.53px;left:2163.48px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3309.53px;left:3815px;letter-spacing:-4px;white-space:nowrap">			7,129,822&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3504.41px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			26,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3504.41px;left:1007px;letter-spacing:-0.46px;white-space:nowrap">Church &amp; Dwight Co. Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3504.41px;left:2697.24px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3504.41px;left:3815px;letter-spacing:-4px;white-space:nowrap">			2,917,385&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3699.28px;left:0px;letter-spacing:-5px;white-space:nowrap">			145,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3699.28px;left:1007px;letter-spacing:0.02px;white-space:nowrap">Edgewell Personal Care Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3699.28px;left:2786.2px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3699.28px;left:3815px;letter-spacing:-4px;white-space:nowrap">			4,525,450&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3894.16px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			67,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3894.16px;left:1007px;white-space:nowrap">Energizer Holdings Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3894.16px;left:2519.32px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3894.16px;left:3815px;letter-spacing:-4px;white-space:nowrap">			2,019,600&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4089.04px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			35,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4089.04px;left:1007px;white-space:nowrap">Essity AB, Cl.&#160;B </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4089.04px;left:1985.56px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4089.04px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,007,949&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4283.92px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			2,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4283.92px;left:1007px;white-space:nowrap">Givaudan SA </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4283.92px;left:1896.6px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4283.92px;left:3815px;letter-spacing:-4px;white-space:nowrap">			8,585,961&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4478.8px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			54,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4478.8px;left:1007px;white-space:nowrap">Hanesbrands Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4478.8px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4478.8px;left:3815px;letter-spacing:-5px;white-space:nowrap">			311,580&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4673.67px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			21,300&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4673.67px;left:1007px;white-space:nowrap">Harley-Davidson Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4673.67px;left:2341.4px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4673.67px;left:3815px;letter-spacing:-5px;white-space:nowrap">			537,825&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4868.55px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			1,170&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4868.55px;left:1007px;white-space:nowrap">Hermes International SCA </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4868.55px;left:2697.24px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4868.55px;left:3815px;letter-spacing:-4px;white-space:nowrap">			3,050,207&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5063.43px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			4,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5063.43px;left:1007px;white-space:nowrap">Johnson Outdoors Inc., Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5063.43px;left:2875.16px;letter-spacing:50.99px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5063.43px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			99,360&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5258.31px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			25,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5258.31px;left:1007px;white-space:nowrap">Mattel Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5258.31px;left:1807.64px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5258.31px;left:3815px;letter-spacing:-5px;white-space:nowrap">			485,750&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5453.18px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			13,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5453.18px;left:1007px;white-space:nowrap">National Presto Industries Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5453.18px;left:2964.12px;letter-spacing:51.24px;white-space:nowrap">........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5453.18px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,142,830&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5648.06px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			24,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5648.06px;left:1007px;white-space:nowrap">Oil-Dri Corp. of America </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5648.06px;left:2519.32px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5648.06px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,102,080&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5842.94px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			50,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5842.94px;left:1007px;white-space:nowrap">Philip Morris International Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5842.94px;left:2964.12px;letter-spacing:51.24px;white-space:nowrap">........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5842.94px;left:3815px;letter-spacing:-4px;white-space:nowrap">			7,936,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6037.82px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			49,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6037.82px;left:1007px;white-space:nowrap">Reckitt Benckiser Group plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6037.82px;left:2786.2px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6037.82px;left:3815px;letter-spacing:-4px;white-space:nowrap">			3,344,147&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6232.7px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			72,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6232.7px;left:1007px;white-space:nowrap">Spectrum Brands Holdings Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6232.7px;left:3053.08px;letter-spacing:51.57px;white-space:nowrap">.......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6232.7px;left:3815px;letter-spacing:-4px;white-space:nowrap">			5,151,600&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6427.57px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			27,600&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6427.57px;left:1007px;white-space:nowrap">Svenska Cellulosa AB SCA, Cl.&#160;B </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6427.57px;left:3053.08px;letter-spacing:51.57px;white-space:nowrap">.......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6427.57px;left:3815px;letter-spacing:-5px;white-space:nowrap">			363,129&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6622.45px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			42,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6622.45px;left:1007px;white-space:nowrap">The Estee Lauder Companies Inc., Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6622.45px;left:3497.88px;letter-spacing:58.08px;white-space:nowrap">..</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6622.45px;left:3815px;letter-spacing:-4px;white-space:nowrap">			2,805,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6817.33px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			4,280&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6817.33px;left:1007px;white-space:nowrap">Unilever plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6817.33px;left:1807.64px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6817.33px;left:3815px;letter-spacing:-5px;white-space:nowrap">			254,872&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7012.21px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			4,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7012.21px;left:1007px;white-space:nowrap">Zalando SE&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7012.21px;left:1807.64px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7012.21px;left:3815px;letter-spacing:-5px;white-space:nowrap">			144,237&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7207.09px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			53,330,913&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7496.32px;left:1007px;white-space:nowrap">Electronics&#160;&#8212; 2.6%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7691.2px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			30,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7691.2px;left:1007px;letter-spacing:-0.91px;white-space:nowrap">Arlo Technologies Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7691.2px;left:2519.32px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7691.2px;left:3815px;letter-spacing:-5px;white-space:nowrap">			296,100&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7886.08px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			3,400&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7886.08px;left:1007px;white-space:nowrap">Bel Fuse Inc., Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7886.08px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7886.08px;left:3815px;letter-spacing:-5px;white-space:nowrap">			245,004&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8080.96px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			3,064&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8080.96px;left:1007px;white-space:nowrap">Bel Fuse Inc., Cl.&#160;B </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8080.96px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8080.96px;left:3815px;letter-spacing:-5px;white-space:nowrap">			229,371&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8275.84px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			2,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8275.84px;left:1007px;white-space:nowrap">CTS Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8275.84px;left:1718.68px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8275.84px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			83,100&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8470.71px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			5,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8470.71px;left:1007px;white-space:nowrap">Flex Ltd.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8470.71px;left:1629.72px;letter-spacing:49.75px;white-space:nowrap">.......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8470.71px;left:3815px;letter-spacing:-5px;white-space:nowrap">			165,400&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8665.59px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			40,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8665.59px;left:1007px;white-space:nowrap">Hitachi Ltd., ADR </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8665.59px;left:2163.48px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8665.59px;left:3815px;letter-spacing:-5px;white-space:nowrap">			938,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8860.47px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			96,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8860.47px;left:1007px;white-space:nowrap">Intel Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8860.47px;left:1718.68px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8860.47px;left:3815px;letter-spacing:-4px;white-space:nowrap">			2,191,515&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9055.35px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			35,161&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9055.35px;left:1007px;white-space:nowrap">Koninklijke Philips NV&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9055.35px;left:2519.32px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9055.35px;left:3815px;letter-spacing:-5px;white-space:nowrap">			893,089&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9250.23px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			1,300&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9250.23px;left:1007px;letter-spacing:-1.18px;white-space:nowrap">Mettler-Toledo International Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9250.23px;left:3142.04px;letter-spacing:52px;white-space:nowrap">......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9250.23px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,535,183&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9445.1px;left:0px;letter-spacing:-5px;white-space:nowrap">			175,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9445.1px;left:1007px;letter-spacing:-0.91px;white-space:nowrap">Mirion Technologies Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9445.1px;left:2697.24px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9445.1px;left:3815px;letter-spacing:-4px;white-space:nowrap">			2,537,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9639.98px;left:0px;letter-spacing:-5px;white-space:nowrap">			325,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9639.98px;left:1007px;white-space:nowrap">Plug Power Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9639.98px;left:2163.48px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9639.98px;left:3815px;letter-spacing:-5px;white-space:nowrap">			438,750&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9834.86px;left:0px;letter-spacing:-5px;white-space:nowrap">			141,245&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9834.86px;left:1007px;white-space:nowrap">Sony Group Corp., ADR </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9834.86px;left:2519.32px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9834.86px;left:3815px;letter-spacing:-4px;white-space:nowrap">			3,586,211&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10029.74px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			33,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10029.74px;left:1007px;white-space:nowrap">TE Connectivity plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10029.74px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10029.74px;left:3815px;letter-spacing:-4px;white-space:nowrap">			4,663,560&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10224.61px;left:0px;letter-spacing:-5px;white-space:nowrap">			177,304&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10224.61px;left:1007px;letter-spacing:-1.97px;white-space:nowrap">Texas Instruments Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10224.61px;left:2519.32px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10224.61px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			31,861,529&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10419.49px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			1,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10419.49px;left:1007px;white-space:nowrap">Universal Display Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10419.49px;left:2519.32px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10419.49px;left:3815px;letter-spacing:-5px;white-space:nowrap">			139,480&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:5449.92px;white-space:nowrap">Shares</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:40px;left:9103.56px;white-space:nowrap">Market</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:9144.92px;letter-spacing:-0.58px;white-space:nowrap">Value</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:486.88px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			6,650&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:486.88px;left:6018.2px;white-space:nowrap">WESCO International Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:486.88px;left:7619.48px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:486.88px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">	$		1,032,745&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			50,836,537&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:970.99px;left:6018.2px;letter-spacing:-0.66px;white-space:nowrap">Telecommunications&#160;&#8212; 2.0%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1165.87px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			100,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1165.87px;left:6018.2px;letter-spacing:-3.68px;white-space:nowrap">America Movil SAB de CV, ADR </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1165.87px;left:8064.28px;letter-spacing:51.57px;white-space:nowrap">.......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1165.87px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,422,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1360.75px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			8,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1360.75px;left:6018.2px;letter-spacing:-1.76px;white-space:nowrap">AT&amp;T Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1360.75px;left:6640.92px;letter-spacing:49.75px;white-space:nowrap">.......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1360.75px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			231,896&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1555.63px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			55,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1555.63px;left:6018.2px;letter-spacing:-2.2px;white-space:nowrap">ATN International Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1555.63px;left:7441.56px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1555.63px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,117,050&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1750.5px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			54,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1750.5px;left:6018.2px;white-space:nowrap">BCE Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1750.5px;left:6551.96px;letter-spacing:49.72px;white-space:nowrap">........................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1750.5px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,239,840&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1945.38px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			750,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1945.38px;left:6018.2px;white-space:nowrap">BT Group plc, Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1945.38px;left:7263.64px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1945.38px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,606,775&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2140.26px;left:5011.2px;letter-spacing:-4px;white-space:nowrap">			7,040,836&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2140.26px;left:6018.2px;white-space:nowrap">Cable &amp; Wireless Jamaica Ltd.&#8224;(a) </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2140.26px;left:8242.2px;letter-spacing:52.61px;white-space:nowrap">.....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2140.26px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			25,839&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2335.14px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			6,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2335.14px;left:6018.2px;white-space:nowrap">Cisco Systems Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2335.14px;left:7263.64px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2335.14px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			370,260&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2530.02px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			8,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2530.02px;left:6018.2px;letter-spacing:-1.48px;white-space:nowrap">Deutsche Telekom AG </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2530.02px;left:7441.56px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2530.02px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			296,017&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2724.89px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			125,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2724.89px;left:6018.2px;letter-spacing:-1.48px;white-space:nowrap">Deutsche Telekom AG, ADR </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2724.89px;left:7797.4px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2724.89px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			4,633,750&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2919.77px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			51,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2919.77px;left:6018.2px;white-space:nowrap">GCI Liberty Inc., Escrow&#8224;(a) </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2919.77px;left:7886.36px;letter-spacing:50.99px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2919.77px;left:8826.2px;letter-spacing:-20px;white-space:nowrap">			0&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3114.65px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			36,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3114.65px;left:6018.2px;letter-spacing:-0.62px;white-space:nowrap">Hellenic Telecommunications Organization </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3306.65px;left:6162.2px;white-space:nowrap">SA </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3306.65px;left:6374.04px;letter-spacing:49.66px;white-space:nowrap">..........................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3306.65px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			583,902&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3501.53px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			15,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3501.53px;left:6018.2px;letter-spacing:-0.62px;white-space:nowrap">Hellenic Telecommunications Organization </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3693.53px;left:6162.2px;white-space:nowrap">SA, ADR </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3693.53px;left:6729.88px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3693.53px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			125,700&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3888.41px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			10,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3888.41px;left:6018.2px;white-space:nowrap">Iridium Communications Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3888.41px;left:7886.36px;letter-spacing:50.99px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3888.41px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			273,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4083.28px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			264,732&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4083.28px;left:6018.2px;white-space:nowrap">Koninklijke KPN NV </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4083.28px;left:7263.64px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4083.28px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,121,260&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4278.16px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			130,045&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4278.16px;left:6018.2px;white-space:nowrap">Liberty Global Ltd., Cl.&#160;A&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4278.16px;left:7708.44px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4278.16px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,496,818&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4473.04px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			159,064&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4473.04px;left:6018.2px;white-space:nowrap">Liberty Global Ltd., Cl.&#160;C&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4473.04px;left:7708.44px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4473.04px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,903,996&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4667.92px;left:5011.2px;letter-spacing:-4px;white-space:nowrap">			1,100,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4667.92px;left:6018.2px;white-space:nowrap">NII Holdings Inc., Escrow&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4667.92px;left:7708.44px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4667.92px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			385,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4862.8px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			85,812&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4862.8px;left:6018.2px;white-space:nowrap">Sunrise Communications AG, Cl.&#160;A&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4862.8px;left:8331.16px;letter-spacing:53.52px;white-space:nowrap">....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4862.8px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			4,141,712&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5057.67px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			21,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5057.67px;left:6018.2px;letter-spacing:-1.48px;white-space:nowrap">Telecom Argentina SA, ADR </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5057.67px;left:7797.4px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5057.67px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			213,990&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5252.55px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			400,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5252.55px;left:6018.2px;letter-spacing:-1.48px;white-space:nowrap">Telecom Italia SpA&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5252.55px;left:7263.64px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5252.55px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			134,427&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5447.43px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			70,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5447.43px;left:6018.2px;letter-spacing:-1.08px;white-space:nowrap">Telefonica Brasil SA, ADR </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5447.43px;left:7708.44px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5447.43px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			610,400&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5642.31px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			285,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5642.31px;left:6018.2px;letter-spacing:-1.08px;white-space:nowrap">Telefonica SA, ADR </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5642.31px;left:7263.64px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5642.31px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,328,100&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5837.18px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			298,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5837.18px;left:6018.2px;letter-spacing:-1.18px;white-space:nowrap">Telephone and Data Systems Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5837.18px;left:8153.24px;letter-spacing:52px;white-space:nowrap">......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5837.18px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			11,552,268&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6032.06px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			50,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6032.06px;left:6018.2px;white-space:nowrap">TELUS Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6032.06px;left:6907.8px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6032.06px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			717,140&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6226.94px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			46,075&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6226.94px;left:6018.2px;white-space:nowrap">TIM SA, ADR </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6226.94px;left:6907.8px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6226.94px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			721,074&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6421.82px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			3,040&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6421.82px;left:6018.2px;white-space:nowrap">VEON Ltd., ADR&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6421.82px;left:7174.68px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6421.82px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			132,574&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6616.7px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			46,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6616.7px;left:6018.2px;letter-spacing:-0.36px;white-space:nowrap">Verizon Communications Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6616.7px;left:7886.36px;letter-spacing:50.99px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6616.7px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			2,109,240&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6811.57px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			174,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6811.57px;left:6018.2px;letter-spacing:-0.32px;white-space:nowrap">Vodafone Group plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6811.57px;left:7352.6px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6811.57px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			163,853&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7006.45px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			98,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7006.45px;left:6018.2px;letter-spacing:-0.32px;white-space:nowrap">Vodafone Group plc, ADR </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7006.45px;left:7708.44px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7006.45px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			918,260&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7201.33px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			39,576,341&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7490.57px;left:6018.2px;white-space:nowrap">Building and Construction&#160;&#8212; 1.9%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7685.45px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			3,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7685.45px;left:6018.2px;white-space:nowrap">AAON Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7685.45px;left:6729.88px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7685.45px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			234,390&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7880.32px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			25,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7880.32px;left:6018.2px;letter-spacing:-0.46px;white-space:nowrap">Arcosa Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7880.32px;left:6729.88px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7880.32px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,966,560&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8075.2px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			6,900&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8075.2px;left:6018.2px;white-space:nowrap">Ashtead Group plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8075.2px;left:7263.64px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8075.2px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			369,536&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8270.08px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			18,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8270.08px;left:6018.2px;white-space:nowrap">Assa Abloy AB, Cl.&#160;B </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8270.08px;left:7352.6px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8270.08px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			537,038&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8464.96px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			50,900&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8464.96px;left:6018.2px;white-space:nowrap">Canfor Corp.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8464.96px;left:6907.8px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8464.96px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			534,095&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8659.84px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			3,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8659.84px;left:6018.2px;white-space:nowrap">Carrier Global Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8659.84px;left:7352.6px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8659.84px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			190,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8854.71px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			2,700&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8854.71px;left:6018.2px;white-space:nowrap">CRH plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8854.71px;left:6551.96px;letter-spacing:49.72px;white-space:nowrap">........................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8854.71px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			237,519&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9049.59px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			2,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9049.59px;left:6018.2px;white-space:nowrap">D.R. Horton Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9049.59px;left:7085.72px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9049.59px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			317,825&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9244.47px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			43,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9244.47px;left:6018.2px;white-space:nowrap">Fortune Brands Innovations Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9244.47px;left:8064.28px;letter-spacing:51.57px;white-space:nowrap">.......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9244.47px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			2,617,840&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9439.35px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			35,400&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9439.35px;left:6018.2px;white-space:nowrap">Gencor Industries Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9439.35px;left:7530.52px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9439.35px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			430,464&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9634.23px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			62,250&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9634.23px;left:6018.2px;letter-spacing:-0.64px;white-space:nowrap">Herc Holdings Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9634.23px;left:7263.64px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9634.23px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			8,358,308&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9829.1px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			35,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9829.1px;left:6018.2px;white-space:nowrap">Ibstock plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9829.1px;left:6729.88px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9829.1px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			77,389&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10023.98px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			160,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10023.98px;left:6018.2px;white-space:nowrap">Johnson Controls International plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10023.98px;left:8242.2px;letter-spacing:52.61px;white-space:nowrap">.....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10023.98px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			12,817,600&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10218.86px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			4,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10218.86px;left:6018.2px;white-space:nowrap">KBR Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10218.86px;left:6640.92px;letter-spacing:49.75px;white-space:nowrap">.......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10218.86px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			199,240&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10413.74px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			29,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10413.74px;left:6018.2px;white-space:nowrap">Knife River Corp.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10413.74px;left:7174.68px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10413.74px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			2,616,090&#8204;</div></div>
		</div>


</div></div><div style="page-break-after:always;margin:-8px;position:relative;height:1296px;width:1080px;transform-origin:top left;transform:scale(2,2)"><div style="position:absolute;top:0px;left:0px;width:540px;height:648px">
		<div style="height:12.40px;left:0px;position:absolute;top:0px;transform:translate(25.200px,612.233px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:489.60px">
			<div style="width:9792px;height:142.8px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,2.92px) rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:170px;position:absolute;top:-6.75px;left:4845.96px;white-space:nowrap">6</div></div>
		</div>
		<div style="height:33.73px;left:0px;position:absolute;top:0px;transform:translate(18.200px,24.305px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:489.40px">
			<div style="width:9788px;height:576px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,3.93px) rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, Helvetica, sans-serif;font-size:230px;font-weight:bold;position:absolute;top:-9px;left:0px;letter-spacing:-3.2px;white-space:nowrap">The Gabelli Equity Trust Inc.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:230px;font-weight:bold;position:absolute;top:279px;left:0px;letter-spacing:-2.4px;white-space:nowrap">Schedule of Investments (Continued) &#8212; March 31, 2025 (Unaudited)</div></div>
		</div>
		<div style="background-color:transparent;height:4.50px;left:0px;position:absolute;top:0px;transform:translate(17.999px,57.416px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:489.60px">

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rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:491.71px">
			<div style="width:9792px;height:10582.27px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,1.5px) rotate(0deg) scale(0.05)">































































































































































































































































































































			<div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:438.72px;white-space:nowrap">Shares</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:40px;left:4092.36px;white-space:nowrap">Market</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:4133.72px;letter-spacing:-0.58px;white-space:nowrap">Value</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:486.88px;left:1007px;white-space:nowrap">COMMON STOCKS (Continued)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:681.75px;left:1007px;white-space:nowrap">Building and Construction (Continued)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			11,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:1007px;white-space:nowrap">Lennar Corp., Cl.&#160;B </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:3815px;letter-spacing:-4px;white-space:nowrap">	$		1,199,770&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			25,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:1007px;white-space:nowrap">Masterbrand Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:2163.48px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:3815px;letter-spacing:-5px;white-space:nowrap">			326,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			12,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:1007px;white-space:nowrap">Sika AG </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:1540.76px;letter-spacing:49.72px;white-space:nowrap">........................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:3815px;letter-spacing:-4px;white-space:nowrap">			2,891,828&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			2,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:1007px;letter-spacing:-2.34px;white-space:nowrap">Toll Brothers Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:2163.48px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:3815px;letter-spacing:-5px;white-space:nowrap">			263,975&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			3,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:1007px;letter-spacing:-0.41px;white-space:nowrap">Vulcan Materials Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:2341.4px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:3815px;letter-spacing:-5px;white-space:nowrap">			699,900&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			36,886,067&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2140.26px;left:1007px;white-space:nowrap">Broadcasting&#160;&#8212; 1.8%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2335.14px;left:0px;letter-spacing:-5px;white-space:nowrap">			309,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2335.14px;left:1007px;white-space:nowrap">Canal+ SA&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2335.14px;left:1807.64px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2335.14px;left:3815px;letter-spacing:-5px;white-space:nowrap">			734,437&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2530.02px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			2,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2530.02px;left:1007px;white-space:nowrap">Cogeco Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2530.02px;left:1807.64px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2530.02px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			88,225&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2724.89px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			20,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2724.89px;left:1007px;white-space:nowrap">Corus Entertainment Inc.,</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2916.89px;left:1151px;white-space:nowrap">OTC, Cl.&#160;B&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2916.89px;left:1896.6px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2916.89px;left:3815px;letter-spacing:-6.67px;white-space:nowrap">			1,700&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3111.77px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			87,400&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3111.77px;left:1007px;white-space:nowrap">Fox Corp., Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3111.77px;left:1985.56px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3111.77px;left:3815px;letter-spacing:-4px;white-space:nowrap">			4,946,840&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3306.65px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			94,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3306.65px;left:1007px;white-space:nowrap">Fox Corp., Cl.&#160;B </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3306.65px;left:1985.56px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3306.65px;left:3815px;letter-spacing:-4px;white-space:nowrap">			4,954,740&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3501.53px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			16,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3501.53px;left:1007px;white-space:nowrap">Gray Media Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3501.53px;left:2074.52px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3501.53px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			69,120&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3696.41px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			16,750&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3696.41px;left:1007px;white-space:nowrap">Liberty Broadband Corp., Cl.&#160;A&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3696.41px;left:3053.08px;letter-spacing:51.57px;white-space:nowrap">.......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3696.41px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,423,750&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3891.28px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			59,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3891.28px;left:1007px;white-space:nowrap">Liberty Broadband Corp., Cl.&#160;C&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3891.28px;left:3053.08px;letter-spacing:51.57px;white-space:nowrap">.......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3891.28px;left:3815px;letter-spacing:-4px;white-space:nowrap">			5,017,950&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4086.16px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			38,250&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4086.16px;left:1007px;white-space:nowrap">Liberty Media Corp.-Liberty Formula One, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4278.16px;left:1151px;white-space:nowrap">Cl.&#160;A&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4278.16px;left:1540.76px;letter-spacing:49.72px;white-space:nowrap">........................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4278.16px;left:3815px;letter-spacing:-4px;white-space:nowrap">			3,116,228&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4473.04px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			36,250&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4473.04px;left:1007px;white-space:nowrap">Liberty Media Corp.-Liberty Formula One, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4665.04px;left:1151px;white-space:nowrap">Cl.&#160;C&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4665.04px;left:1540.76px;letter-spacing:49.72px;white-space:nowrap">........................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4665.04px;left:3815px;letter-spacing:-4px;white-space:nowrap">			3,262,862&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4859.92px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			17,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4859.92px;left:1007px;white-space:nowrap">Nexstar Media Group Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4859.92px;left:2697.24px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4859.92px;left:3815px;letter-spacing:-4px;white-space:nowrap">			3,136,350&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5054.8px;left:0px;letter-spacing:-5px;white-space:nowrap">			100,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5054.8px;left:1007px;white-space:nowrap">Sinclair Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5054.8px;left:1807.64px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5054.8px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,593,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5249.67px;left:0px;letter-spacing:-5px;white-space:nowrap">			143,974&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5249.67px;left:1007px;white-space:nowrap">Sirius XM Holdings Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5249.67px;left:2519.32px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5249.67px;left:3815px;letter-spacing:-4px;white-space:nowrap">			3,245,894&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5444.55px;left:0px;letter-spacing:-5px;white-space:nowrap">			149,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5444.55px;left:1007px;white-space:nowrap">TEGNA Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5444.55px;left:1807.64px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5444.55px;left:3815px;letter-spacing:-4px;white-space:nowrap">			2,723,890&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5639.43px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			60,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5639.43px;left:1007px;letter-spacing:-1.08px;white-space:nowrap">Television Broadcasts Ltd.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5639.43px;left:2786.2px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5639.43px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			23,749&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5834.31px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			34,338,735&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6123.54px;left:1007px;letter-spacing:-0.29px;white-space:nowrap">Aviation: Parts and Services&#160;&#8212; 1.6%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6318.42px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			4,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6318.42px;left:1007px;white-space:nowrap">AAR Corp.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6318.42px;left:1807.64px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6318.42px;left:3815px;letter-spacing:-5px;white-space:nowrap">			223,960&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6513.3px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			30,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6513.3px;left:1007px;white-space:nowrap">Astronics Corp.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6513.3px;left:2074.52px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6513.3px;left:3815px;letter-spacing:-5px;white-space:nowrap">			725,100&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6708.18px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			84,700&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6708.18px;left:1007px;white-space:nowrap">Curtiss-Wright Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6708.18px;left:2341.4px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6708.18px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			26,872,769&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6903.06px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			4,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6903.06px;left:1007px;white-space:nowrap">JBT Marel Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6903.06px;left:2074.52px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6903.06px;left:3815px;letter-spacing:-5px;white-space:nowrap">			488,800&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7097.93px;left:0px;letter-spacing:-5px;white-space:nowrap">			103,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7097.93px;left:1007px;white-space:nowrap">Spirit AeroSystems Holdings Inc., Cl.&#160;A&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7097.93px;left:3586.84px;letter-spacing:67.2px;white-space:nowrap">.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7097.93px;left:3815px;letter-spacing:-4px;white-space:nowrap">			3,566,610&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7292.81px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			31,877,239&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7582.05px;left:1007px;white-space:nowrap">Computer Software and Services&#160;&#8212; 1.6%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7776.93px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			20,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7776.93px;left:1007px;white-space:nowrap">3D Systems Corp.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7776.93px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7776.93px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			42,400&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7971.81px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			1,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7971.81px;left:1007px;letter-spacing:-0.91px;white-space:nowrap">Akamai Technologies Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7971.81px;left:2697.24px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7971.81px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			80,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8166.68px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			21,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8166.68px;left:1007px;white-space:nowrap">Alphabet Inc., Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8166.68px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8166.68px;left:3815px;letter-spacing:-4px;white-space:nowrap">			3,324,760&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8361.56px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			27,680&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8361.56px;left:1007px;white-space:nowrap">Alphabet Inc., Cl.&#160;C </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8361.56px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8361.56px;left:3815px;letter-spacing:-4px;white-space:nowrap">			4,324,446&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8556.44px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			1,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8556.44px;left:1007px;white-space:nowrap">Backblaze Inc., Cl.&#160;A&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8556.44px;left:2430.36px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8556.44px;left:3815px;letter-spacing:-6.67px;white-space:nowrap">			7,245&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8751.32px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			1,250&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8751.32px;left:1007px;white-space:nowrap">Capgemini SE </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8751.32px;left:1896.6px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8751.32px;left:3815px;letter-spacing:-5px;white-space:nowrap">			186,592&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8946.2px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			1,600&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8946.2px;left:1007px;letter-spacing:-0.91px;white-space:nowrap">Check Point Software Technologies Ltd.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8946.2px;left:3586.84px;letter-spacing:67.2px;white-space:nowrap">.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8946.2px;left:3815px;letter-spacing:-5px;white-space:nowrap">			364,672&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9141.07px;left:0px;letter-spacing:-10px;white-space:nowrap">			270&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9141.07px;left:1007px;white-space:nowrap">CrowdStrike Holdings Inc., Cl.&#160;A&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9141.07px;left:3142.04px;letter-spacing:52px;white-space:nowrap">......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9141.07px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			95,197&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9335.95px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			4,866&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9335.95px;left:1007px;white-space:nowrap">Edgio Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9335.95px;left:1718.68px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9335.95px;left:3815px;letter-spacing:-20px;white-space:nowrap">			0&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9530.83px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			3,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9530.83px;left:1007px;letter-spacing:0.41px;white-space:nowrap">Fiserv Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9530.83px;left:1807.64px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9530.83px;left:3815px;letter-spacing:-5px;white-space:nowrap">			662,490&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9725.71px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			2,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9725.71px;left:1007px;white-space:nowrap">Fortinet Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9725.71px;left:1896.6px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9725.71px;left:3815px;letter-spacing:-5px;white-space:nowrap">			192,520&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9920.58px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			90,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9920.58px;left:1007px;white-space:nowrap">Hewlett Packard Enterprise Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9920.58px;left:2964.12px;letter-spacing:51.24px;white-space:nowrap">........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9920.58px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,388,700&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10115.46px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			25,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10115.46px;left:1007px;letter-spacing:-0.29px;white-space:nowrap">I3 Verticals Inc., Cl.&#160;A&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10115.46px;left:2519.32px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10115.46px;left:3815px;letter-spacing:-5px;white-space:nowrap">			616,750&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10310.34px;left:0px;letter-spacing:-10px;white-space:nowrap">			270&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10310.34px;left:1007px;white-space:nowrap">Intuit Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10310.34px;left:1629.72px;letter-spacing:49.75px;white-space:nowrap">.......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10310.34px;left:3815px;letter-spacing:-5px;white-space:nowrap">			165,777&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:5449.92px;white-space:nowrap">Shares</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:40px;left:9103.56px;white-space:nowrap">Market</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:9144.92px;letter-spacing:-0.58px;white-space:nowrap">Value</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:486.88px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			8,054&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:486.88px;left:6018.2px;letter-spacing:0.36px;white-space:nowrap">Kyndryl Holdings Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:486.88px;left:7530.52px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:486.88px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">	$		252,896&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			13,455&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:6018.2px;white-space:nowrap">Meta Platforms Inc., Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:7708.44px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			7,754,924&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			4,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:6018.2px;letter-spacing:-1.08px;white-space:nowrap">Micron Technology Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:7530.52px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			347,560&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			4,670&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:6018.2px;white-space:nowrap">Microsoft Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:7085.72px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,753,071&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			12,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:6018.2px;white-space:nowrap">MKS Instruments Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:7441.56px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			961,800&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			25,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:6018.2px;letter-spacing:0.02px;white-space:nowrap">Movella Holdings Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:7530.52px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:8826.2px;letter-spacing:-10px;white-space:nowrap">			625&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			30,400&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:6018.2px;white-space:nowrap">N-able Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:6818.84px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			215,536&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			7,065&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:6018.2px;white-space:nowrap">NVIDIA Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:6907.8px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			765,705&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			1,240&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:6018.2px;white-space:nowrap">Oracle Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:6818.84px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			173,364&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			145,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:6018.2px;white-space:nowrap">Oxford Metrics plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:7263.64px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			100,769&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2435.66px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			30,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2435.66px;left:6018.2px;letter-spacing:-1.48px;white-space:nowrap">PAR Technology Corp.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2435.66px;left:7530.52px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2435.66px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,840,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2630.53px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			4,700&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2630.53px;left:6018.2px;white-space:nowrap">PSI Software SE&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2630.53px;left:7174.68px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2630.53px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			128,577&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2825.41px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			16,900&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2825.41px;left:6018.2px;letter-spacing:0.02px;white-space:nowrap">Rockwell Automation Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2825.41px;left:7708.44px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2825.41px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			4,366,622&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3020.29px;left:5011.2px;letter-spacing:-10px;white-space:nowrap">			550&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3020.29px;left:6018.2px;letter-spacing:-0.29px;white-space:nowrap">Salesforce Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3020.29px;left:6996.76px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3020.29px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			147,598&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3215.17px;left:5011.2px;letter-spacing:-10px;white-space:nowrap">			251&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3215.17px;left:6018.2px;letter-spacing:0.26px;white-space:nowrap">ServiceNow Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3215.17px;left:7174.68px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3215.17px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			199,831&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3410.05px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			19,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3410.05px;left:6018.2px;white-space:nowrap">SolarWinds Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3410.05px;left:7174.68px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3410.05px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			350,170&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3604.92px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			2,600&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3604.92px;left:6018.2px;letter-spacing:-1.48px;white-space:nowrap">Temenos AG </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3604.92px;left:6818.84px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3604.92px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			200,136&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3799.8px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			4,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3799.8px;left:6018.2px;white-space:nowrap">Unity Software Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3799.8px;left:7352.6px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3799.8px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			88,155&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3994.68px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			20,800&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3994.68px;left:6018.2px;white-space:nowrap">Vimeo Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3994.68px;left:6818.84px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3994.68px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			109,408&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4189.56px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			31,208,996&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4478.8px;left:6018.2px;white-space:nowrap">Hotels and Gaming&#160;&#8212; 1.5%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4673.67px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			14,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4673.67px;left:6018.2px;white-space:nowrap">Accor SA </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4673.67px;left:6640.92px;letter-spacing:49.75px;white-space:nowrap">.......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4673.67px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			656,787&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4868.55px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			23,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4868.55px;left:6018.2px;white-space:nowrap">Better Collective A/S&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4868.55px;left:7441.56px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4868.55px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			254,442&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5063.43px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			71,600&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5063.43px;left:6018.2px;white-space:nowrap">Caesars Entertainment Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5063.43px;left:7797.4px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5063.43px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,790,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5258.31px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			179,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5258.31px;left:6018.2px;white-space:nowrap">Entain plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5258.31px;left:6640.92px;letter-spacing:49.75px;white-space:nowrap">.......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5258.31px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,339,740&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5453.18px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			4,250&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5453.18px;left:6018.2px;white-space:nowrap">Flutter Entertainment plc&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5453.18px;left:7708.44px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5453.18px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			930,544&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5648.06px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			20,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5648.06px;left:6018.2px;white-space:nowrap">Genius Sports Ltd.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5648.06px;left:7352.6px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5648.06px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			200,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5842.94px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			6,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5842.94px;left:6018.2px;white-space:nowrap">Hyatt Hotels Corp., Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5842.94px;left:7619.48px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5842.94px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			796,250&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6037.82px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			36,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6037.82px;left:6018.2px;white-space:nowrap">Inspired Entertainment Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6037.82px;left:7886.36px;letter-spacing:50.99px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6037.82px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			307,440&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6232.7px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			7,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6232.7px;left:6018.2px;letter-spacing:-0.48px;white-space:nowrap">Las Vegas Sands Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6232.7px;left:7530.52px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6232.7px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			270,410&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6427.57px;left:5011.2px;letter-spacing:-4px;white-space:nowrap">			3,938,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6427.57px;left:6018.2px;white-space:nowrap">Mandarin Oriental International Ltd. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6427.57px;left:8331.16px;letter-spacing:53.52px;white-space:nowrap">....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6427.57px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			6,892,375&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6622.45px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			5,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6622.45px;left:6018.2px;white-space:nowrap">Marriott International Inc., Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6622.45px;left:8064.28px;letter-spacing:51.57px;white-space:nowrap">.......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6622.45px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,310,100&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6817.33px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			70,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6817.33px;left:6018.2px;white-space:nowrap">MGM China Holdings Ltd. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6817.33px;left:7708.44px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6817.33px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			93,916&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7012.21px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			81,400&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7012.21px;left:6018.2px;white-space:nowrap">MGM Resorts International&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7012.21px;left:7886.36px;letter-spacing:50.99px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7012.21px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			2,412,696&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7207.09px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			6,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7207.09px;left:6018.2px;white-space:nowrap">Penn Entertainment Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7207.09px;left:7619.48px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7207.09px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			97,860&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7401.96px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			105,700&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7401.96px;left:6018.2px;white-space:nowrap">Ryman Hospitality Properties Inc., REIT </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7401.96px;left:8598.04px;letter-spacing:67.2px;white-space:nowrap">.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7401.96px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			9,665,208&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7596.84px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			40,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7596.84px;left:6018.2px;white-space:nowrap">Super Group SGHC Ltd. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7596.84px;left:7530.52px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7596.84px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			257,600&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7791.72px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			200,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7791.72px;left:6018.2px;white-space:nowrap">The Hongkong &amp; Shanghai Hotels Ltd. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7791.72px;left:8509.08px;letter-spacing:58.08px;white-space:nowrap">..</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7791.72px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			146,759&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7986.6px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			4,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7986.6px;left:6018.2px;white-space:nowrap">Wyndham Hotels &amp; Resorts Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7986.6px;left:8064.28px;letter-spacing:51.57px;white-space:nowrap">.......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7986.6px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			362,040&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8181.48px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			13,100&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8181.48px;left:6018.2px;white-space:nowrap">Wynn Resorts Ltd. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8181.48px;left:7263.64px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8181.48px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,093,850&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8376.35px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			28,878,217&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8665.59px;left:6018.2px;letter-spacing:-0.85px;white-space:nowrap">Transportation&#160;&#8212; 1.0%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8860.47px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			15,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8860.47px;left:6018.2px;white-space:nowrap">Ferrari Group plc&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8860.47px;left:7174.68px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8860.47px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			132,405&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9055.35px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			1,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9055.35px;left:6018.2px;letter-spacing:-1.76px;white-space:nowrap">FTAI Infrastructure Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9055.35px;left:7530.52px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9055.35px;left:8826.2px;letter-spacing:-6.67px;white-space:nowrap">			4,530&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9250.23px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			128,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9250.23px;left:6018.2px;letter-spacing:-1.76px;white-space:nowrap">GATX Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9250.23px;left:6818.84px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9250.23px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			19,905,614&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9445.1px;left:5011.2px;letter-spacing:-10px;white-space:nowrap">			500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9445.1px;left:6018.2px;white-space:nowrap">Union Pacific Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9445.1px;left:7263.64px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9445.1px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			118,120&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9639.98px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			20,160,669&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9929.22px;left:6018.2px;white-space:nowrap">Wireless Communications&#160;&#8212; 1.0%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10124.1px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			15,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10124.1px;left:6018.2px;white-space:nowrap">Anterix Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10124.1px;left:6818.84px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10124.1px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			549,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10318.97px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			80,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10318.97px;left:6018.2px;letter-spacing:0.02px;white-space:nowrap">Millicom International Cellular SA </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10318.97px;left:8153.24px;letter-spacing:52px;white-space:nowrap">......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10318.97px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			2,421,600&#8204;</div></div>
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		<div style="height:12.40px;left:0px;position:absolute;top:0px;transform:translate(25.200px,612.233px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:489.60px">
			<div style="width:9792px;height:142.8px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,2.92px) rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:170px;position:absolute;top:-6.75px;left:4845.96px;white-space:nowrap">7</div></div>
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		<div style="height:33.73px;left:0px;position:absolute;top:0px;transform:translate(18.200px,24.305px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:489.40px">
			<div style="width:9788px;height:576px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,3.93px) rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, Helvetica, sans-serif;font-size:230px;font-weight:bold;position:absolute;top:-9px;left:0px;letter-spacing:-3.2px;white-space:nowrap">The Gabelli Equity Trust Inc.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:230px;font-weight:bold;position:absolute;top:279px;left:0px;letter-spacing:-2.4px;white-space:nowrap">Schedule of Investments (Continued) &#8212; March 31, 2025 (Unaudited)</div></div>
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		<div style="background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAB/gAAAATCAYAAACUadXJAAAACXBIWXMAAC4jAAAuIwF4pT92AAAA6ElEQVR4Xu3ZwQ2AMBDAsAN1/52YDEbos0Sy39kg18y8AwAAAAAAAAD82r0LAAAAAAAAAIDzDH4AAAAAAAAACDD4AQAAAAAAACDA4AcAAAAAAACAAIMfAAAAAAAAAAIMfgAAAAAAAAAIMPgBAAAAAAAAIMDgBwAAAAAAAIAAgx8AAAAAAAAAAgx+AAAAAAAAAAgw+AEAAAAAAAAgwOAHAAAAAAAAgACDHwAAAAAAAAACDH4AAAAAAAAACDD4AQAAAAAAACDA4AcAAAAAAACAAIMfAAAAAAAAAALWzDy7CAAAAAAAAAA46wMQOQHom10yKQAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100.00%;min-width:100%;width:100.00%;left:0px;position:absolute;top:0px"></div></div>
		<div 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rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:491.71px">
			<div style="width:9792px;height:10582.27px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,1.5px) rotate(0deg) scale(0.05)">

















































































































































































































































































































































			<div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:438.72px;white-space:nowrap">Shares</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:40px;left:4092.36px;white-space:nowrap">Market</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:4133.72px;letter-spacing:-0.58px;white-space:nowrap">Value</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:486.88px;left:1007px;white-space:nowrap">COMMON STOCKS (Continued)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:681.75px;left:1007px;white-space:nowrap">Wireless Communications (Continued)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:0px;letter-spacing:-5px;white-space:nowrap">			105,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:1007px;white-space:nowrap">Operadora De Sites Mexicanos SAB de CV </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">	$		74,602&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			30,800&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:1007px;letter-spacing:-0.98px;white-space:nowrap">T-Mobile US Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:2074.52px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:3815px;letter-spacing:-4px;white-space:nowrap">			8,214,668&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:0px;letter-spacing:-5px;white-space:nowrap">			118,400&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:1007px;white-space:nowrap">United States Cellular Corp.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:2875.16px;letter-spacing:50.99px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:3815px;letter-spacing:-4px;white-space:nowrap">			8,187,360&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			19,447,230&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1750.5px;left:1007px;white-space:nowrap">Real Estate&#160;&#8212; 1.0%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1945.38px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			16,750&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1945.38px;left:1007px;letter-spacing:-1.97px;white-space:nowrap">American Tower Corp., REIT </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1945.38px;left:2786.2px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1945.38px;left:3815px;letter-spacing:-4px;white-space:nowrap">			3,644,800&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2140.26px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			28,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2140.26px;left:1007px;letter-spacing:-1.97px;white-space:nowrap">Blackstone Mortgage Trust Inc., Cl.&#160;A, REIT </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2140.26px;left:3815px;letter-spacing:-5px;white-space:nowrap">			570,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2335.14px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			8,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2335.14px;left:1007px;white-space:nowrap">Bresler &amp; Reiner Inc.&#8224;(a) </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2335.14px;left:2608.28px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2335.14px;left:3815px;letter-spacing:-10px;white-space:nowrap">			200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2530.02px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			13,707&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2530.02px;left:1007px;letter-spacing:-1.97px;white-space:nowrap">Franklin BSP Realty Trust Inc., REIT </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2530.02px;left:3319.96px;letter-spacing:53.52px;white-space:nowrap">....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2530.02px;left:3815px;letter-spacing:-5px;white-space:nowrap">			174,627&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2724.89px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			10,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2724.89px;left:1007px;white-space:nowrap">Gaming and Leisure Properties Inc., REIT </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2724.89px;left:3815px;letter-spacing:-5px;white-space:nowrap">			509,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2919.77px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			1,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2919.77px;left:1007px;letter-spacing:0.02px;white-space:nowrap">Millrose Properties Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2919.77px;left:2608.28px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2919.77px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			39,765&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3114.65px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			5,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3114.65px;left:1007px;letter-spacing:0.02px;white-space:nowrap">Millrose Properties Inc., REIT&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3114.65px;left:2964.12px;letter-spacing:51.24px;white-space:nowrap">........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3114.65px;left:3815px;letter-spacing:-5px;white-space:nowrap">			132,550&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3309.53px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			17,260&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3309.53px;left:1007px;white-space:nowrap">Rayonier Inc., REIT </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3309.53px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3309.53px;left:3815px;letter-spacing:-5px;white-space:nowrap">			481,209&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3504.41px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			58,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3504.41px;left:1007px;white-space:nowrap">Seritage Growth Properties, Cl.&#160;A&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3504.41px;left:3231px;letter-spacing:52.61px;white-space:nowrap">.....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3504.41px;left:3815px;letter-spacing:-5px;white-space:nowrap">			187,340&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3699.28px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			1,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3699.28px;left:1007px;white-space:nowrap">Simon Property Group Inc., REIT </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3699.28px;left:3142.04px;letter-spacing:52px;white-space:nowrap">......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3699.28px;left:3815px;letter-spacing:-5px;white-space:nowrap">			166,080&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3894.16px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			12,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3894.16px;left:1007px;letter-spacing:-1.97px;white-space:nowrap">Tejon Ranch Co.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3894.16px;left:2163.48px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3894.16px;left:3815px;letter-spacing:-5px;white-space:nowrap">			190,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4089.04px;left:0px;letter-spacing:-5px;white-space:nowrap">			242,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4089.04px;left:1007px;white-space:nowrap">The St. Joe Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4089.04px;left:1985.56px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4089.04px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			11,361,900&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4283.92px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			23,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4283.92px;left:1007px;white-space:nowrap">VICI Properties Inc., REIT </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4283.92px;left:2697.24px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4283.92px;left:3815px;letter-spacing:-5px;white-space:nowrap">			766,570&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4478.8px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			9,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4478.8px;left:1007px;letter-spacing:-0.22px;white-space:nowrap">Weyerhaeuser Co., REIT </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4478.8px;left:2608.28px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4478.8px;left:3815px;letter-spacing:-5px;white-space:nowrap">			263,520&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4673.67px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			18,487,761&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4962.91px;left:1007px;white-space:nowrap">Automotive&#160;&#8212; 0.9%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5157.79px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			19,150&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5157.79px;left:1007px;letter-spacing:-1.97px;white-space:nowrap">Daimler Truck Holding AG </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5157.79px;left:2697.24px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5157.79px;left:3815px;letter-spacing:-5px;white-space:nowrap">			768,640&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5352.67px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			7,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5352.67px;left:1007px;letter-spacing:-1.97px;white-space:nowrap">Daimler Truck Holding AG, ADR </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5352.67px;left:3053.08px;letter-spacing:51.57px;white-space:nowrap">.......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5352.67px;left:3815px;letter-spacing:-5px;white-space:nowrap">			150,375&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5547.54px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			17,300&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5547.54px;left:1007px;white-space:nowrap">General Motors Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5547.54px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5547.54px;left:3815px;letter-spacing:-5px;white-space:nowrap">			813,619&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5742.42px;left:0px;letter-spacing:-5px;white-space:nowrap">			186,900&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5742.42px;left:1007px;white-space:nowrap">Iveco Group NV </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5742.42px;left:2074.52px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5742.42px;left:3815px;letter-spacing:-4px;white-space:nowrap">			3,045,571&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5937.3px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			9,450&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5937.3px;left:1007px;letter-spacing:-0.23px;white-space:nowrap">Mercedes-Benz Group AG </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5937.3px;left:2697.24px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5937.3px;left:3815px;letter-spacing:-5px;white-space:nowrap">			553,729&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6132.18px;left:0px;letter-spacing:-5px;white-space:nowrap">			103,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6132.18px;left:1007px;letter-spacing:-0.85px;white-space:nowrap">PACCAR Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6132.18px;left:1896.6px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6132.18px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			10,029,110&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6327.06px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			90,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6327.06px;left:1007px;white-space:nowrap">Piaggio &amp; C SpA </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6327.06px;left:2074.52px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6327.06px;left:3815px;letter-spacing:-5px;white-space:nowrap">			185,778&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6521.93px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			25,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6521.93px;left:1007px;letter-spacing:0.01px;white-space:nowrap">Stellantis NV </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6521.93px;left:1896.6px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6521.93px;left:3815px;letter-spacing:-5px;white-space:nowrap">			280,250&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6716.81px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			3,050&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6716.81px;left:1007px;letter-spacing:-1.69px;white-space:nowrap">Toyota Motor Corp., ADR </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6716.81px;left:2608.28px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6716.81px;left:3815px;letter-spacing:-5px;white-space:nowrap">			538,417&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6911.69px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			52,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6911.69px;left:1007px;letter-spacing:-1.69px;white-space:nowrap">Traton SE </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6911.69px;left:1629.72px;letter-spacing:49.75px;white-space:nowrap">.......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6911.69px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,748,678&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7106.57px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			18,114,167&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7395.81px;left:1007px;white-space:nowrap">Cable and Satellite&#160;&#8212; 0.9%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7590.68px;left:0px;letter-spacing:-5px;white-space:nowrap">			168,980&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7590.68px;left:1007px;white-space:nowrap">Comcast Corp., Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7590.68px;left:2341.4px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7590.68px;left:3815px;letter-spacing:-4px;white-space:nowrap">			6,235,362&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7785.56px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			62,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7785.56px;left:1007px;white-space:nowrap">EchoStar Corp., Cl.&#160;A&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7785.56px;left:2430.36px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7785.56px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,598,750&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7980.44px;left:0px;letter-spacing:-5px;white-space:nowrap">			150,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7980.44px;left:1007px;white-space:nowrap">Liberty Latin America Ltd., Cl.&#160;A&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7980.44px;left:3142.04px;letter-spacing:52px;white-space:nowrap">......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7980.44px;left:3815px;letter-spacing:-5px;white-space:nowrap">			949,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8175.32px;left:0px;letter-spacing:-5px;white-space:nowrap">			349,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8175.32px;left:1007px;white-space:nowrap">Rogers Communications Inc., Cl.&#160;B </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8175.32px;left:3231px;letter-spacing:52.61px;white-space:nowrap">.....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8175.32px;left:3815px;letter-spacing:-4px;white-space:nowrap">			9,328,770&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8370.2px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			18,112,382&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8659.43px;left:1007px;white-space:nowrap">Metals and Mining&#160;&#8212; 0.9%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8854.31px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			32,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8854.31px;left:1007px;white-space:nowrap">Agnico Eagle Mines Ltd. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8854.31px;left:2608.28px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8854.31px;left:3815px;letter-spacing:-4px;white-space:nowrap">			3,469,120&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9049.19px;left:0px;letter-spacing:-10px;white-space:nowrap">			200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9049.19px;left:1007px;letter-spacing:-0.36px;white-space:nowrap">Alliance Resource Partners LP </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9049.19px;left:2964.12px;letter-spacing:51.24px;white-space:nowrap">........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9049.19px;left:3815px;letter-spacing:-6.67px;white-space:nowrap">			5,456&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9244.07px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			36,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9244.07px;left:1007px;white-space:nowrap">Barrick Gold Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9244.07px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9244.07px;left:3815px;letter-spacing:-5px;white-space:nowrap">			699,840&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9438.94px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			28,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9438.94px;left:1007px;white-space:nowrap">Cleveland-Cliffs Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9438.94px;left:2341.4px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9438.94px;left:3815px;letter-spacing:-5px;white-space:nowrap">			230,160&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9633.82px;left:0px;letter-spacing:-5px;white-space:nowrap">			137,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9633.82px;left:1007px;white-space:nowrap">Freeport-McMoRan Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9633.82px;left:2519.32px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9633.82px;left:3815px;letter-spacing:-4px;white-space:nowrap">			5,186,820&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9828.7px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			2,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9828.7px;left:1007px;white-space:nowrap">Materion Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9828.7px;left:1985.56px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9828.7px;left:3815px;letter-spacing:-5px;white-space:nowrap">			163,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10023.58px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			60,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10023.58px;left:1007px;letter-spacing:0.02px;white-space:nowrap">Metallus Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10023.58px;left:1896.6px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10023.58px;left:3815px;letter-spacing:-5px;white-space:nowrap">			801,600&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10218.46px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			50,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10218.46px;left:1007px;white-space:nowrap">New Hope Corp. Ltd. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10218.46px;left:2341.4px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10218.46px;left:3815px;letter-spacing:-5px;white-space:nowrap">			115,910&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10413.33px;left:0px;letter-spacing:-5px;white-space:nowrap">			117,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10413.33px;left:1007px;white-space:nowrap">Newmont Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10413.33px;left:2074.52px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10413.33px;left:3815px;letter-spacing:-4px;white-space:nowrap">			5,648,760&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:5449.92px;white-space:nowrap">Shares</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:40px;left:9103.56px;white-space:nowrap">Market</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:9144.92px;letter-spacing:-0.58px;white-space:nowrap">Value</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:486.88px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			10,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:486.88px;left:6018.2px;letter-spacing:-0.58px;white-space:nowrap">Vale SA, ADR </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:486.88px;left:6907.8px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:486.88px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">	$		99,800&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			16,420,666&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:970.99px;left:6018.2px;white-space:nowrap">Specialty Chemicals&#160;&#8212; 0.8%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1165.87px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			8,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1165.87px;left:6018.2px;white-space:nowrap">AdvanSix Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1165.87px;left:6907.8px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1165.87px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			181,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1360.75px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			3,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1360.75px;left:6018.2px;white-space:nowrap">DSM-Firmenich AG </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1360.75px;left:7263.64px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1360.75px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			296,363&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1555.63px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			45,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1555.63px;left:6018.2px;white-space:nowrap">DuPont de Nemours Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1555.63px;left:7619.48px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1555.63px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			3,360,600&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1750.5px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			7,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1750.5px;left:6018.2px;white-space:nowrap">FMC Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1750.5px;left:6729.88px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1750.5px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			295,330&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1945.38px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			15,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1945.38px;left:6018.2px;white-space:nowrap">H.B. Fuller Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1945.38px;left:6996.76px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1945.38px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			841,800&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2140.26px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			29,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2140.26px;left:6018.2px;white-space:nowrap">International Flavors &amp; Fragrances Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2140.26px;left:8509.08px;letter-spacing:58.08px;white-space:nowrap">..</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2140.26px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			2,250,690&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2335.14px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			2,800&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2335.14px;left:6018.2px;white-space:nowrap">Johnson Matthey plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2335.14px;left:7352.6px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2335.14px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			47,888&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2530.02px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			25,400&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2530.02px;left:6018.2px;white-space:nowrap">Rogers Corp.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2530.02px;left:6996.76px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2530.02px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,715,262&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2724.89px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			98,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2724.89px;left:6018.2px;letter-spacing:-0.91px;white-space:nowrap">Sensient Technologies Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2724.89px;left:7886.36px;letter-spacing:50.99px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2724.89px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			7,294,140&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2919.77px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			13,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2919.77px;left:6018.2px;white-space:nowrap">SGL Carbon SE&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2919.77px;left:7085.72px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2919.77px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			47,301&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3114.65px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			12,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3114.65px;left:6018.2px;letter-spacing:-1.69px;white-space:nowrap">Treatt plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3114.65px;left:6640.92px;letter-spacing:49.75px;white-space:nowrap">.......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3114.65px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			54,899&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3309.53px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			16,385,473&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3598.77px;left:6018.2px;white-space:nowrap">Communications Equipment&#160;&#8212; 0.7%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3793.64px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			11,140&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3793.64px;left:6018.2px;white-space:nowrap">Apple Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3793.64px;left:6729.88px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3793.64px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			2,474,528&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3988.52px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			9,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3988.52px;left:6018.2px;white-space:nowrap">Arista Networks Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3988.52px;left:7441.56px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3988.52px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			697,320&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4183.4px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			178,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4183.4px;left:6018.2px;white-space:nowrap">Corning Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4183.4px;left:6818.84px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4183.4px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			8,148,840&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4378.28px;left:5011.2px;letter-spacing:-10px;white-space:nowrap">			105&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4378.28px;left:6018.2px;white-space:nowrap">DoorDash Inc., Cl.&#160;A&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4378.28px;left:7441.56px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4378.28px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			19,191&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4573.15px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			20,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4573.15px;left:6018.2px;white-space:nowrap">Harmonic Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4573.15px;left:6996.76px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4573.15px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			191,800&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4768.03px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			1,750&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4768.03px;left:6018.2px;white-space:nowrap">Motorola Solutions Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4768.03px;left:7530.52px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4768.03px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			766,167&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4962.91px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			4,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4962.91px;left:6018.2px;white-space:nowrap">QUALCOMM Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4962.91px;left:7174.68px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4962.91px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			691,245&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5157.79px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			33,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5157.79px;left:6018.2px;letter-spacing:-1.48px;white-space:nowrap">Telesat Corp.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5157.79px;left:6996.76px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5157.79px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			621,390&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5352.67px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			13,610,481&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5641.9px;left:6018.2px;letter-spacing:-0.36px;white-space:nowrap">Manufactured Housing and Recreational Vehicles&#160;&#8212; 0.4%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5836.78px;left:5011.2px;letter-spacing:-10px;white-space:nowrap">			540&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5836.78px;left:6018.2px;white-space:nowrap">Cavco Industries Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5836.78px;left:7441.56px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5836.78px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			280,600&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6031.66px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			36,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6031.66px;left:6018.2px;white-space:nowrap">Champion Homes Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6031.66px;left:7530.52px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6031.66px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			3,411,360&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6226.54px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			9,864&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6226.54px;left:6018.2px;white-space:nowrap">Legacy Housing Corp.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6226.54px;left:7530.52px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6226.54px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			248,770&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6421.42px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			5,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6421.42px;left:6018.2px;white-space:nowrap">Martin Marietta Materials Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6421.42px;left:7886.36px;letter-spacing:50.99px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6421.42px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			2,390,650&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6616.29px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			47,623&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6616.29px;left:6018.2px;white-space:nowrap">Nobility Homes Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6616.29px;left:7263.64px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6616.29px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,500,125&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6811.17px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			7,831,505&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7100.41px;left:6018.2px;white-space:nowrap">Publishing&#160;&#8212; 0.4%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7295.29px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			1,400&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7295.29px;left:6018.2px;white-space:nowrap">Graham Holdings Co., Cl.&#160;B </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7295.29px;left:7797.4px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7295.29px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,345,204&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7490.17px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			344,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7490.17px;left:6018.2px;white-space:nowrap">Louis Hachette Group&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7490.17px;left:7530.52px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7490.17px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			513,873&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7685.04px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			90,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7685.04px;left:6018.2px;white-space:nowrap">News Corp., Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7685.04px;left:7174.68px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7685.04px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			2,449,800&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7879.92px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			82,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7879.92px;left:6018.2px;white-space:nowrap">News Corp., Cl.&#160;B </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7879.92px;left:7174.68px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7879.92px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			2,490,340&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8074.8px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			53,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8074.8px;left:6018.2px;letter-spacing:-2.37px;white-space:nowrap">The E.W. Scripps Co., Cl.&#160;A&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8074.8px;left:7797.4px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8074.8px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			156,880&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8269.68px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			6,956,097&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8558.91px;left:6018.2px;white-space:nowrap">Agriculture&#160;&#8212; 0.3%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8753.79px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			103,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8753.79px;left:6018.2px;letter-spacing:-0.4px;white-space:nowrap">Archer-Daniels-Midland Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8753.79px;left:7797.4px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8753.79px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			4,945,030&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8948.67px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			49,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8948.67px;left:6018.2px;white-space:nowrap">Limoneira Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8948.67px;left:6907.8px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8948.67px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			868,280&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9143.55px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			6,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9143.55px;left:6018.2px;white-space:nowrap">The Mosaic Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9143.55px;left:6996.76px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9143.55px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			175,565&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9338.43px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			5,988,875&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9627.66px;left:6018.2px;white-space:nowrap">Semiconductors&#160;&#8212; 0.2%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9822.54px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			8,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9822.54px;left:6018.2px;white-space:nowrap">Advanced Micro Devices Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9822.54px;left:7975.32px;letter-spacing:51.24px;white-space:nowrap">........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9822.54px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			821,920&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10017.42px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			40,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10017.42px;left:6018.2px;white-space:nowrap">Alphawave IP Group plc&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10017.42px;left:7619.48px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10017.42px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			48,312&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10212.3px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			3,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10212.3px;left:6018.2px;white-space:nowrap">Applied Materials Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10212.3px;left:7441.56px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10212.3px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			435,360&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10407.18px;left:5011.2px;letter-spacing:-10px;white-space:nowrap">			415&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10407.18px;left:6018.2px;white-space:nowrap">ASML Holding NV </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10407.18px;left:7174.68px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10407.18px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			274,991&#8204;</div></div>
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			<div style="width:9792px;height:142.8px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,2.92px) rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:170px;position:absolute;top:-6.75px;left:4845.96px;white-space:nowrap">8</div></div>
		</div>
		<div style="height:33.73px;left:0px;position:absolute;top:0px;transform:translate(18.200px,24.305px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:489.40px">
			<div style="width:9788px;height:576px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,3.93px) rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, Helvetica, sans-serif;font-size:230px;font-weight:bold;position:absolute;top:-9px;left:0px;letter-spacing:-3.2px;white-space:nowrap">The Gabelli Equity Trust Inc.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:230px;font-weight:bold;position:absolute;top:279px;left:0px;letter-spacing:-2.4px;white-space:nowrap">Schedule of Investments (Continued) &#8212; March 31, 2025 (Unaudited)</div></div>
		</div>
		<div style="background-color:transparent;height:4.50px;left:0px;position:absolute;top:0px;transform:translate(17.999px,57.416px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:489.60px">

		<div style="background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAB/gAAAATCAYAAACUadXJAAAACXBIWXMAAC4jAAAuIwF4pT92AAAA6ElEQVR4Xu3ZwQ2AMBDAsAN1/52YDEbos0Sy39kg18y8AwAAAAAAAAD82r0LAAAAAAAAAIDzDH4AAAAAAAAACDD4AQAAAAAAACDA4AcAAAAAAACAAIMfAAAAAAAAAAIMfgAAAAAAAAAIMPgBAAAAAAAAIMDgBwAAAAAAAIAAgx8AAAAAAAAAAgx+AAAAAAAAAAgw+AEAAAAAAAAgwOAHAAAAAAAAgACDHwAAAAAAAAACDH4AAAAAAAAACDD4AQAAAAAAACDA4AcAAAAAAACAAIMfAAAAAAAAAALWzDy7CAAAAAAAAAA46wMQOQHom10yKQAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100.00%;min-width:100%;width:100.00%;left:0px;position:absolute;top:0px"></div></div>
		<div style="background-image:url(data:image/png;base64,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rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:502.56px">
			<div style="width:9792px;height:10582.27px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,1.5px) rotate(0deg) scale(0.05)">

































































































































































































































			<div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:438.72px;white-space:nowrap">Shares</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:40px;left:4092.36px;white-space:nowrap">Market</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:4133.72px;letter-spacing:-0.58px;white-space:nowrap">Value</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:486.88px;left:1007px;white-space:nowrap">COMMON STOCKS (Continued)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:681.75px;left:1007px;white-space:nowrap">Semiconductors (Continued)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			1,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:1007px;letter-spacing:-0.91px;white-space:nowrap">Axcelis Technologies Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:2697.24px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">	$		59,604&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			6,450&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:1007px;white-space:nowrap">Broadcom Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:1985.56px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,079,924&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			2,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:1007px;white-space:nowrap">GLOBALFOUNDRIES Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:2697.24px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			73,820&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			2,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:1007px;letter-spacing:-0.36px;white-space:nowrap">Lam Research Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:2341.4px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:3815px;letter-spacing:-5px;white-space:nowrap">			145,400&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			3,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:1007px;white-space:nowrap">nLight Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:1807.64px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			23,310&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			2,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:1007px;white-space:nowrap">NXP Semiconductors NV </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:2608.28px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:3815px;letter-spacing:-5px;white-space:nowrap">			418,132&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			23,758&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:1007px;letter-spacing:-1.08px;white-space:nowrap">SkyWater Technology Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:2786.2px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:3815px;letter-spacing:-5px;white-space:nowrap">			168,444&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			3,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:1007px;letter-spacing:-1.69px;white-space:nowrap">Taiwan Semiconductor Manufacturing Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2432.78px;left:1151px;white-space:nowrap">Ltd., ADR </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2432.78px;left:1807.64px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2432.78px;left:3815px;letter-spacing:-5px;white-space:nowrap">			498,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2627.66px;left:3815px;letter-spacing:-4px;white-space:nowrap">			4,047,217&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2916.89px;left:1007px;white-space:nowrap">Computer Hardware&#160;&#8212; 0.1%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3111.77px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			11,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3111.77px;left:1007px;letter-spacing:-0.91px;white-space:nowrap">Dell Technologies Inc., Cl.&#160;C </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3111.77px;left:2786.2px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3111.77px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,002,650&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3306.65px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			5,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3306.65px;left:1007px;white-space:nowrap">HP Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3306.65px;left:1540.76px;letter-spacing:49.72px;white-space:nowrap">........................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3306.65px;left:3815px;letter-spacing:-5px;white-space:nowrap">			152,295&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3501.53px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			3,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3501.53px;left:1007px;white-space:nowrap">NETGEAR Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3501.53px;left:1985.56px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3501.53px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			73,380&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3696.41px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,228,325&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3987.08px;left:1007px;letter-spacing:-1.47px;white-space:nowrap">TOTAL COMMON STOCKS </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3987.08px;left:2745.06px;letter-spacing:52.16px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3987.08px;left:3815px;letter-spacing:-8.23px;white-space:nowrap">			1,906,831,629&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4336.37px;left:1007px;white-space:nowrap">CLOSED-END FUNDS&#160;&#8212; 0.3%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4531.25px;left:0px;letter-spacing:-5px;white-space:nowrap">			245,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4531.25px;left:1007px;white-space:nowrap">Altaba Inc., Escrow&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4531.25px;left:2341.4px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4531.25px;left:3815px;letter-spacing:-5px;white-space:nowrap">			373,625&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4726.13px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			4,285&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4726.13px;left:1007px;letter-spacing:-1.97px;white-space:nowrap">Royce Global Trust Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4726.13px;left:2519.32px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4726.13px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			44,992&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4921px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			46,158&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4921px;left:1007px;letter-spacing:-1.97px;white-space:nowrap">Royce Small-Cap Trust Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4921px;left:2786.2px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4921px;left:3815px;letter-spacing:-5px;white-space:nowrap">			657,290&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5115.88px;left:0px;letter-spacing:-5px;white-space:nowrap">			620,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5115.88px;left:1007px;white-space:nowrap">SuRo Capital Corp.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5115.88px;left:2341.4px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5115.88px;left:3815px;letter-spacing:-4px;white-space:nowrap">			3,081,400&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5310.76px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			78,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5310.76px;left:1007px;white-space:nowrap">The Central Europe, Russia,</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5502.76px;left:1151px;letter-spacing:-1.69px;white-space:nowrap">and Turkey Fund Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5502.76px;left:2519.32px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5502.76px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,125,540&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5697.64px;left:0px;letter-spacing:-5px;white-space:nowrap">			156,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5697.64px;left:1007px;white-space:nowrap">The New Germany Fund Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5697.64px;left:2875.16px;letter-spacing:50.99px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5697.64px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,530,360&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5892.51px;left:3815px;letter-spacing:-4px;white-space:nowrap">			6,813,207&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6183.19px;left:1007px;letter-spacing:-1.47px;white-space:nowrap">TOTAL CLOSED-END FUNDS </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6183.19px;left:2847.3px;letter-spacing:52.56px;white-space:nowrap">........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6183.19px;left:3815px;letter-spacing:-4px;white-space:nowrap">			6,813,207&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6532.48px;left:1007px;white-space:nowrap">PREFERRED STOCKS&#160;&#8212; 0.1%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6727.36px;left:1007px;white-space:nowrap">Retail&#160;&#8212; 0.1%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6922.23px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			54,250&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6922.23px;left:1007px;white-space:nowrap">QVC Group Inc., 8.000%, 03/15/31 </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6922.23px;left:3231px;letter-spacing:52.61px;white-space:nowrap">.....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6922.23px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,400,193&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7271.52px;left:1007px;letter-spacing:-0.36px;white-space:nowrap">WARRANTS&#160;&#8212; 0.0%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7466.4px;left:1007px;white-space:nowrap">Energy and Utilities&#160;&#8212; 0.0%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7661.28px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			2,504&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7661.28px;left:1007px;white-space:nowrap">Occidental Petroleum Corp., expire </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7853.28px;left:1151px;white-space:nowrap">08/03/27&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7853.28px;left:1807.64px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7853.28px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			69,286&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8142.51px;left:1007px;text-rendering:optimizeLegibility;white-space:nowrap">Diversified Industrial&#160;&#8212; 0.0%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8337.39px;left:0px;letter-spacing:-5px;white-space:nowrap">			379,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8337.39px;left:1007px;white-space:nowrap">Ampco-Pittsburgh Corp., expire 08/01/25&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8337.39px;left:3815px;letter-spacing:-6.67px;white-space:nowrap">			4,889&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8628.07px;left:1007px;letter-spacing:-1.47px;white-space:nowrap">TOTAL WARRANTS</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8628.07px;left:2235.48px;letter-spacing:51.02px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8628.07px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			74,175&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8917.31px;left:152.64px;white-space:nowrap">Principal</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9109.31px;left:197.04px;white-space:nowrap">Amount</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9364.19px;left:1007px;letter-spacing:-0.88px;white-space:nowrap">CONVERTIBLE CORPORATE BONDS&#160;&#8212; 0.0%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9559.06px;left:1007px;white-space:nowrap">Cable and Satellite&#160;&#8212; 0.0%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9753.94px;left:0px;letter-spacing:-5px;white-space:nowrap">	$		200,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9753.94px;left:1007px;white-space:nowrap">AMC Networks Inc.,</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9945.94px;left:1151px;white-space:nowrap">4.250%, 02/15/29(b) </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9945.94px;left:2519.32px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9945.94px;left:3815px;letter-spacing:-5px;white-space:nowrap">			176,600&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:40px;left:5163.84px;white-space:nowrap">Principal</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:5208.24px;white-space:nowrap">Amount</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:40px;left:9103.56px;white-space:nowrap">Market</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:9144.92px;letter-spacing:-0.58px;white-space:nowrap">Value</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:486.88px;left:6018.2px;letter-spacing:-0.8px;white-space:nowrap">U.S. GOVERNMENT OBLIGATIONS&#160;&#8212; 1.1%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:5011.2px;letter-spacing:-3.64px;white-space:nowrap">	$		21,020,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:6018.2px;letter-spacing:-1px;white-space:nowrap">U.S. Treasury Bills,</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:6162.2px;white-space:nowrap">4.223% to 4.239%&#8224;&#8224;, 06/12/25 to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1068.63px;left:6162.2px;white-space:nowrap">06/26/25</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1068.63px;left:6731.16px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1068.63px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">	$		20,819,015&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1556.23px;left:6018.2px;letter-spacing:-1.47px;white-space:nowrap">TOTAL INVESTMENTS &#8212; 100.0% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1556.23px;left:8267.45px;letter-spacing:56.17px;white-space:nowrap">....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1751.11px;left:6162.2px;white-space:nowrap">(Cost $1,086,169,305) </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1751.11px;left:7619.48px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1751.11px;left:8826.2px;letter-spacing:-8.23px;white-space:nowrap">	$		1,936,114,819&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2188.99px;left:5011.2px;white-space:nowrap">(a)	Security is valued using significant unobservable inputs and is classified </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2368.99px;left:5371.2px;letter-spacing:-0.32px;white-space:nowrap">as Level 3 in the fair value hierarchy.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2563.86px;left:5011.2px;white-space:nowrap">(b)	Security exempt from registration under Rule 144A of the Securities </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2743.86px;left:5371.2px;white-space:nowrap">Act of 1933, as amended. This security may be resold in transactions </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2923.86px;left:5371.2px;white-space:nowrap">exempt from registration, normally to qualified institutional buyers.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3118.74px;left:5011.2px;white-space:nowrap">&#8224;	Non-income producing security.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3313.62px;left:5011.2px;letter-spacing:-0.36px;white-space:nowrap">&#8224;&#8224;	Represents annualized yields at dates of purchase.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3588.5px;left:5011.2px;white-space:nowrap">ADR</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3588.5px;left:5443.2px;white-space:nowrap">American Depositary Receipt</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3783.38px;left:5011.2px;white-space:nowrap">REIT</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3783.38px;left:5443.2px;letter-spacing:-2.37px;white-space:nowrap">Real Estate Investment Trust</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4358.25px;left:5011.2px;white-space:nowrap">Geographic Diversification</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4166.25px;left:7641.76px;letter-spacing:-2.37px;white-space:nowrap">% of Total</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4358.25px;left:7573.68px;white-space:nowrap">Investments</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4166.25px;left:9016.06px;white-space:nowrap">Market</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4358.25px;left:9057.42px;letter-spacing:-0.58px;white-space:nowrap">Value</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4585.13px;left:5011.2px;white-space:nowrap">North America </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4585.13px;left:5971.2px;letter-spacing:21.45px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4585.13px;left:7343.2px;letter-spacing:-8px;white-space:nowrap">		85.1&#8204;%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4585.13px;left:8667.2px;letter-spacing:-6.23px;white-space:nowrap">	$		1,647,532,759&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4780.01px;left:5011.2px;white-space:nowrap">Europe </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4780.01px;left:5491.2px;letter-spacing:21.07px;white-space:nowrap">..............................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4780.01px;left:7343.2px;letter-spacing:-8px;white-space:nowrap">		12.1&#8204;&#160;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4780.01px;left:8667.2px;letter-spacing:-3.33px;white-space:nowrap">			234,635,907&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4974.89px;left:5011.2px;white-space:nowrap">Japan </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4974.89px;left:5431.2px;letter-spacing:21.03px;white-space:nowrap">...............................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4974.89px;left:7343.2px;letter-spacing:-10px;white-space:nowrap">		1.2&#8204;&#160;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4974.89px;left:8667.2px;letter-spacing:-3.64px;white-space:nowrap">			22,709,170&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5169.77px;left:5011.2px;white-space:nowrap">Latin America </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5169.77px;left:5911.2px;letter-spacing:21.39px;white-space:nowrap">.......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5169.77px;left:7343.2px;letter-spacing:-10px;white-space:nowrap">		1.1&#8204;&#160;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5169.77px;left:8667.2px;letter-spacing:-3.64px;white-space:nowrap">			21,720,102&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5364.64px;left:5011.2px;text-rendering:optimizeLegibility;white-space:nowrap">Asia/Pacific </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5364.64px;left:5791.2px;letter-spacing:21.28px;white-space:nowrap">.........................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5364.64px;left:7343.2px;letter-spacing:-10px;white-space:nowrap">		0.5&#8204;&#160;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5364.64px;left:8667.2px;letter-spacing:-4px;white-space:nowrap">			9,516,881&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5627.52px;left:5011.2px;letter-spacing:-1.97px;white-space:nowrap">Total Investments </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5627.52px;left:6151.2px;letter-spacing:21.68px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5627.52px;left:7343.2px;letter-spacing:-5.71px;white-space:nowrap">	100.0&#8204;%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5627.52px;left:8667.2px;letter-spacing:-6.23px;white-space:nowrap">	$	1,936,114,819&#8204;</div></div>
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</SEC-DOCUMENT>
