<SEC-DOCUMENT>0001752724-24-188375.txt : 20240823
<SEC-HEADER>0001752724-24-188375.hdr.sgml : 20240823
<ACCEPTANCE-DATETIME>20240823151854
ACCESSION NUMBER:		0001752724-24-188375
CONFORMED SUBMISSION TYPE:	NPORT-P
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20240630
FILED AS OF DATE:		20240823
DATE AS OF CHANGE:		20240823
PERIOD START:           	20241231

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NEW GERMANY FUND INC
		CENTRAL INDEX KEY:			0000858706
		ORGANIZATION NAME:           	
		IRS NUMBER:				133555471
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		NPORT-P
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05983
		FILM NUMBER:		241235992

	BUSINESS ADDRESS:	
		STREET 1:		875 THIRD AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022-6225
		BUSINESS PHONE:		212-454-4500

	MAIL ADDRESS:	
		STREET 1:		875 THIRD AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022-6225

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LENOX FUND INC
		DATE OF NAME CHANGE:	19900115
</SEC-HEADER>
<DOCUMENT>
<TYPE>NPORT-P
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/nport" xmlns:com="http://www.sec.gov/edgar/common" xmlns:ncom="http://www.sec.gov/edgar/nportcommon" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.sec.gov/edgar/nport eis_NPORT_Filer.xsd">
  <headerData>
    <submissionType>NPORT-P</submissionType>
    <isConfidential>false</isConfidential>
    <filerInfo>

      <filer>
        <issuerCredentials>
          <cik>0000858706</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>




    </filerInfo>
  </headerData>
  <formData>
    <genInfo>
      <regName>The New Germany Fund, Inc.</regName>
      <regFileNumber>811-05983</regFileNumber>
      <regCik>0000858706</regCik>
      <regLei>549300TPS2RTTJ8O3C08</regLei>
      <regStreet1>875 Third Avenue</regStreet1>
      <regStreet2>NULL</regStreet2>
      <regCity>New York</regCity>
      <regStateConditional regCountry="US" regState="US-NY"/>
      <regZipOrPostalCode>10022-6225</regZipOrPostalCode>
      <regPhone>212-454-4500</regPhone>
      <seriesName>The New Germany Fund, Inc.</seriesName>
      <seriesLei>549300TPS2RTTJ8O3C08</seriesLei>
      <repPdEnd>2024-12-31</repPdEnd>
      <repPdDate>2024-06-30</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>175828672.17</totAssets>
      <totLiabs>15108622.08</totLiabs>
      <netAssets>160720050.09</netAssets>
      <assetsAttrMiscSec>0.00000000</assetsAttrMiscSec>
      <assetsInvested>0.00000000</assetsInvested>
      <amtPayOneYrBanksBorr>0.00000000</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0.00000000</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0.00000000</amtPayOneYrOthAffil>
      <amtPayOneYrOther>0.00000000</amtPayOneYrOther>
      <amtPayAftOneYrBanksBorr>0.00000000</amtPayAftOneYrBanksBorr>
      <amtPayAftOneYrCtrldComp>0.00000000</amtPayAftOneYrCtrldComp>
      <amtPayAftOneYrOthAffil>0.00000000</amtPayAftOneYrOthAffil>
      <amtPayAftOneYrOther>0.00000000</amtPayAftOneYrOther>
      <delayDeliv>0.00000000</delayDeliv>
      <standByCommit>0.00000000</standByCommit>
      <liquidPref>0.00000000</liquidPref>
      <cshNotRptdInCorD>0.00000000</cshNotRptdInCorD>
      <borrowers>
        <borrower aggrVal="136269.57000000" lei="549300BLWPABP1VNME36" name="Scotia Capital (USA) Inc"/>
        <borrower aggrVal="1678696.15000000" lei="RUC0QBLBRPRCU4W1NE59" name="BMO Capital Markets Corp"/>
        <borrower aggrVal="1647236.73000000" lei="FOR8UP27PHTHYVLBNG30" name="Goldman Sachs &amp; Co  LLC"/>
        <borrower aggrVal="1053888.26000000" lei="9R7GPTSO7KV3UQJZQ078" name="Morgan Stanley &amp; Co  Inc"/>
        <borrower aggrVal="5538974.94000000" lei="549300HN4UKV1E2R3U73" name="BofA SECURITIES INC"/>
        <borrower aggrVal="2892955.62000000" lei="MBNUM2BPBDO7JBLYG310" name="Citigroup Global Markets Inc"/>
      </borrowers>
      <isNonCashCollateral>N</isNonCashCollateral>
      <returnInfo>
        <monthlyTotReturns>
          <monthlyTotReturn rtn1="-4.01836969" rtn2="4.22994976" rtn3="-6.32911392"/>
        </monthlyTotReturns>
        <monthlyReturnCats>
          <commodityContracts>
            <mon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <forwardCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </forwardCategory>
            <futureCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </futureCategory>
            <optionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </optionCategory>
            <swaptionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swaptionCategory>
            <swapCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swapCategory>
            <warrantCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </warrantCategory>
            <otherCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </otherCategory>
          </commodityContracts>
          <creditContracts>
            <mon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <forwardCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </forwardCategory>
            <futureCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </futureCategory>
            <optionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </optionCategory>
            <swaptionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swaptionCategory>
            <swapCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swapCategory>
            <warrantCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </warrantCategory>
            <otherCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </otherCategory>
          </creditContracts>
          <equityContracts>
            <mon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <forwardCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </forwardCategory>
            <futureCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </futureCategory>
            <optionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </optionCategory>
            <swaptionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swaptionCategory>
            <swapCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swapCategory>
            <warrantCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </warrantCategory>
            <otherCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </otherCategory>
          </equityContracts>
          <foreignExchgContracts>
            <mon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <forwardCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </forwardCategory>
            <futureCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </futureCategory>
            <optionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </optionCategory>
            <swaptionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swaptionCategory>
            <swapCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swapCategory>
            <warrantCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </warrantCategory>
            <otherCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </otherCategory>
          </foreignExchgContracts>
          <interestRtContracts>
            <mon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <forwardCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </forwardCategory>
            <futureCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </futureCategory>
            <optionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </optionCategory>
            <swaptionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swaptionCategory>
            <swapCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swapCategory>
            <warrantCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </warrantCategory>
            <otherCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </otherCategory>
          </interestRtContracts>
          <otherContracts>
            <mon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <mon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            <forwardCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </forwardCategory>
            <futureCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </futureCategory>
            <optionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </optionCategory>
            <swaptionCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swaptionCategory>
            <swapCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </swapCategory>
            <warrantCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </warrantCategory>
            <otherCategory>
              <instrMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
              <instrMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
            </otherCategory>
          </otherContracts>
        </monthlyReturnCats>
        <othMon1 netRealizedGain="-336217.22000000" netUnrealizedAppr="-6262670.24000000"/>
        <othMon2 netRealizedGain="1550151.25000000" netUnrealizedAppr="2106014.55000000"/>
        <othMon3 netRealizedGain="-310541.03000000" netUnrealizedAppr="-11020352.95000000"/>
      </returnInfo>
      <mon1Flow redemption="963543.56000000" reinvestment="0.00000000" sales="0.00000000"/>
      <mon2Flow redemption="171400.66000000" reinvestment="0.00000000" sales="0.00000000"/>
      <mon3Flow redemption="600499.76000000" reinvestment="0.00000000" sales="0.00000000"/>
    </fundInfo>
    <invstOrSecs>
      <invstOrSec>
        <name>DELIVERY HERO SE /EUR/</name>
        <lei>529900C3EX1FZGE48X78</lei>
        <title>DELIVERY HERO SE /EUR/ 0.00000000</title>
        <cusip>D1T0KZ103</cusip>
        <identifiers>
          <isin value="DE000A2E4K43"/>
        </identifiers>
        <balance>113662.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>2697622.65000000</valUSD>
        <pctVal>1.678460558274</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>PUMA SE /EUR/</name>
        <lei>529900GRZ2BQY5ZM9N49</lei>
        <title>PUMA SE /EUR/ 0.00000000</title>
        <cusip>D62318148</cusip>
        <identifiers>
          <isin value="DE0006969603"/>
        </identifiers>
        <balance>92000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>4226038.86000000</valUSD>
        <pctVal>2.629440979911</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>GFT TECHNOLOGIES SE /EUR/</name>
        <lei>5299002FNBSGW23ULF72</lei>
        <title>GFT TECHNOLOGIES SE /EUR/ 0.00000000</title>
        <cusip>D2823P101</cusip>
        <identifiers>
          <isin value="DE0005800601"/>
        </identifiers>
        <balance>42000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>1122824.85000000</valUSD>
        <pctVal>0.698621515717</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>K+S AG-REG /EUR/</name>
        <lei>529900YURAYD4IJX2J91</lei>
        <title>K+S AG-REG /EUR/ 0.00000000</title>
        <cusip>D48164129</cusip>
        <identifiers>
          <isin value="DE000KSAG888"/>
        </identifiers>
        <balance>50000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>673705.62000000</valUSD>
        <pctVal>0.419179573191</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="365179.70000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMADEUS FIRE AG /EUR/</name>
        <lei>391200TJJ820ZDHNFJ33</lei>
        <title>AMADEUS FIRE AG /EUR/ 0.00000000</title>
        <cusip>D0349N105</cusip>
        <identifiers>
          <isin value="DE0005093108"/>
        </identifiers>
        <balance>12300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>1399657.59000000</valUSD>
        <pctVal>0.870866820422</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>NORDEX SE /EUR/</name>
        <lei>529900HVDYCUWVD0OE76</lei>
        <title>NORDEX SE /EUR/ 0.00000000</title>
        <cusip>D5736K135</cusip>
        <identifiers>
          <isin value="DE000A0D6554"/>
        </identifiers>
        <balance>64000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>784509.44000000</valUSD>
        <pctVal>0.488121699539</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="773657.67000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DERMAPHARM HOLDING SE /EUR/</name>
        <lei>N/A</lei>
        <title>DERMAPHARM HOLDING SE /EUR/ 0.00000000</title>
        <cusip>D1T0ZJ103</cusip>
        <identifiers>
          <isin value="DE000A2GS5D8"/>
        </identifiers>
        <balance>12400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>478317.60000000</valUSD>
        <pctVal>0.297609165584</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>AIXTRON SE /EUR/ /PERPETUAL/</name>
        <lei>5299004UJ4D51M25LD67</lei>
        <title>AIXTRON SE /EUR/ /PERPETUAL/ 0.00000000</title>
        <cusip>D0257Y135</cusip>
        <identifiers>
          <isin value="DE000A0WMPJ6"/>
        </identifiers>
        <balance>79000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>1552030.25000000</valUSD>
        <pctVal>0.965673075096</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="1552333.27000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GEA GROUP AG /EUR/</name>
        <lei>549300PHUU0ZZWO8EO07</lei>
        <title>GEA GROUP AG /EUR/ 0.00000000</title>
        <cusip>D28304109</cusip>
        <identifiers>
          <isin value="DE0006602006"/>
        </identifiers>
        <balance>98000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>4084772.30000000</valUSD>
        <pctVal>2.541544939609</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>ECKERT &amp; ZIEGLER SE /EUR/</name>
        <lei>391200EUDABLUKXCKG48</lei>
        <title>ECKERT &amp; ZIEGLER SE /EUR/ 0.00000000</title>
        <cusip>D2371P107</cusip>
        <identifiers>
          <isin value="DE0005659700"/>
        </identifiers>
        <balance>37000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>1818142.63000000</valUSD>
        <pctVal>1.131248172820</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>RENK GROUP AG /EUR/</name>
        <lei>894500H8CNSZ53EI6K63</lei>
        <title>RENK GROUP AG /EUR/ 0.00000000</title>
        <cusip>D6S2UZ108</cusip>
        <identifiers>
          <isin value="DE000RENK730"/>
        </identifiers>
        <balance>71941.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>1948317.86000000</valUSD>
        <pctVal>1.212243188643</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>TEAMVIEWER SE /EUR/</name>
        <lei>3912000FZ0R0KEK9JS42</lei>
        <title>TEAMVIEWER SE /EUR/ 0.00000000</title>
        <cusip>D8T895100</cusip>
        <identifiers>
          <isin value="DE000A2YN900"/>
        </identifiers>
        <balance>97908.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>1098915.72000000</valUSD>
        <pctVal>0.683745257287</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>CTS EVENTIM AG &amp; CO KGAA /EUR/</name>
        <lei>529900FDHSN08UBJII80</lei>
        <title>CTS EVENTIM AG &amp; CO KGAA /EUR/ 0.00000000</title>
        <cusip>D1648T108</cusip>
        <identifiers>
          <isin value="DE0005470306"/>
        </identifiers>
        <balance>49000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>4090022.65000000</valUSD>
        <pctVal>2.544811706883</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>HELLOFRESH SE /EUR/</name>
        <lei>391200ZAF4V6XD2M9G57</lei>
        <title>HELLOFRESH SE /EUR/ 0.00000000</title>
        <cusip>D3R2MA100</cusip>
        <identifiers>
          <isin value="DE000A161408"/>
        </identifiers>
        <balance>145000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>702261.10000000</valUSD>
        <pctVal>0.436946790152</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="702410.36000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LANXESS AG /EUR/</name>
        <lei>529900PTLRE72EMYIJ77</lei>
        <title>LANXESS AG /EUR/ 0.00000000</title>
        <cusip>D5032B102</cusip>
        <identifiers>
          <isin value="DE0005470405"/>
        </identifiers>
        <balance>47500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>1169595.82000000</valUSD>
        <pctVal>0.727722408837</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>NEMETSCHEK SE  /EUR/</name>
        <lei>529900R0S2IX1S358J38</lei>
        <title>NEMETSCHEK SE /EUR/ 0.00000000</title>
        <cusip>D56134105</cusip>
        <identifiers>
          <isin value="DE0006452907"/>
        </identifiers>
        <balance>25900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>2549007.42000000</valUSD>
        <pctVal>1.585992176192</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>LEG IMMOBILIEN SE /EUR/</name>
        <lei>391200SO40AKONBO0Z96</lei>
        <title>LEG IMMOBILIEN SE /EUR/ 0.00000000</title>
        <cusip>D4960A103</cusip>
        <identifiers>
          <isin value="DE000LEG1110"/>
        </identifiers>
        <balance>64000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>5229605.76000000</valUSD>
        <pctVal>3.253860210391</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>DUERR AG /EUR/</name>
        <lei>5299003APZ54EDTSRO20</lei>
        <title>DUERR AG /EUR/ 0.00000000</title>
        <cusip>D23279108</cusip>
        <identifiers>
          <isin value="DE0005565204"/>
        </identifiers>
        <balance>72277.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>1533407.15000000</valUSD>
        <pctVal>0.954085784033</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>TAG IMMOBILIEN AG /EUR/</name>
        <lei>529900TAE68USJNXLR59</lei>
        <title>TAG IMMOBILIEN AG /EUR/ 0.00000000</title>
        <cusip>D8283Q174</cusip>
        <identifiers>
          <isin value="DE0008303504"/>
        </identifiers>
        <balance>161809.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>2370081.96000000</valUSD>
        <pctVal>1.474664771864</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>FUCHS SE /EUR/</name>
        <lei>529900SNF9E1P5ZO4P98</lei>
        <title>FUCHS SE /EUR/ 0.00000000</title>
        <cusip>D27462379</cusip>
        <identifiers>
          <isin value="DE000A3E5D64"/>
        </identifiers>
        <balance>57000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>2606702.34000000</valUSD>
        <pctVal>1.621889949972</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="1678696.15000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WACKER CHEMIE AG /EUR/</name>
        <lei>N/A</lei>
        <title>WACKER CHEMIE AG /EUR/ 0.00000000</title>
        <cusip>D9540Z106</cusip>
        <identifiers>
          <isin value="DE000WCH8881"/>
        </identifiers>
        <balance>18608.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>2029736.45000000</valUSD>
        <pctVal>1.262901827658</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>FREENET AG /EUR/</name>
        <lei>5299003GLDODCVP8DO20</lei>
        <title>FREENET AG /EUR/ 0.00000000</title>
        <cusip>D3689Q134</cusip>
        <identifiers>
          <isin value="DE000A0Z2ZZ5"/>
        </identifiers>
        <balance>78000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>2072709.60000000</valUSD>
        <pctVal>1.289639717533</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>COVESTRO AG /EUR/</name>
        <lei>3912005AWHKLQ1CPLV11</lei>
        <title>COVESTRO AG /EUR/ 144A 0.00000000</title>
        <cusip>D15349109</cusip>
        <identifiers>
          <isin value="DE0006062144"/>
        </identifiers>
        <balance>34465.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>2023722.76000000</valUSD>
        <pctVal>1.259160110307</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>BEFESA SA /EUR/</name>
        <lei>222100VXGA8L6J4ZWG61</lei>
        <title>BEFESA SA /EUR/ 144A 0.00000000</title>
        <cusip>L0R30V103</cusip>
        <identifiers>
          <isin value="LU1704650164"/>
        </identifiers>
        <balance>57426.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>1911182.65000000</valUSD>
        <pctVal>1.189137664485</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>PATRIZIA SE /EUR/</name>
        <lei>N/A</lei>
        <title>PATRIZIA SE /EUR/ 0.00000000</title>
        <cusip>D5988D110</cusip>
        <identifiers>
          <isin value="DE000PAT1AG3"/>
        </identifiers>
        <balance>52822.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>402983.26000000</valUSD>
        <pctVal>0.250736146345</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>CARL ZEISS MEDITEC AG -  /EUR/</name>
        <lei>N/A</lei>
        <title>CARL ZEISS MEDITEC AG - BR /EUR/ 0.00000000</title>
        <cusip>D14895102</cusip>
        <identifiers>
          <isin value="DE0005313704"/>
        </identifiers>
        <balance>46342.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>3259880.49000000</valUSD>
        <pctVal>2.028297333266</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>FIELMANN GROUP AG /EUR/</name>
        <lei>N/A</lei>
        <title>FIELMANN GROUP AG /EUR/ 0.00000000</title>
        <cusip>D2617N114</cusip>
        <identifiers>
          <isin value="DE0005772206"/>
        </identifiers>
        <balance>55000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>2528204.25000000</valUSD>
        <pctVal>1.573048445781</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>KNORR-BREMSE AG /EUR/</name>
        <lei>N/A</lei>
        <title>KNORR-BREMSE AG /EUR/ 0.00000000</title>
        <cusip>D4S43E114</cusip>
        <identifiers>
          <isin value="DE000KBX1006"/>
        </identifiers>
        <balance>74000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>5653448.30000000</valUSD>
        <pctVal>3.517574998784</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>REDCARE PHARMACY NV /EUR/</name>
        <lei>529900JK6UXHY1YKZ082</lei>
        <title>REDCARE PHARMACY NV /EUR/ 144A 0.00000000</title>
        <cusip>N7975Z103</cusip>
        <identifiers>
          <isin value="NL0012044747"/>
        </identifiers>
        <balance>47000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>5741097.00000000</valUSD>
        <pctVal>3.572110011653</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="1721753.37000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ELMOS SEMICONDUCTOR SE /EUR/</name>
        <lei>529900UMKKDCAP4P4H63</lei>
        <title>ELMOS SEMICONDUCTOR SE /EUR/ 0.00000000</title>
        <cusip>D2462G107</cusip>
        <identifiers>
          <isin value="DE0005677108"/>
        </identifiers>
        <balance>30831.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>2513995.20000000</valUSD>
        <pctVal>1.564207576212</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>JENOPTIK AG /EUR/</name>
        <lei>529900P34GDHGXK6VB37</lei>
        <title>JENOPTIK AG /EUR/ 0.00000000</title>
        <cusip>D3S19K104</cusip>
        <identifiers>
          <isin value="DE000A2NB601"/>
        </identifiers>
        <balance>40000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>1158077.20000000</valUSD>
        <pctVal>0.720555524560</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>GRENKE AG /EUR/</name>
        <lei>529900BHRYZ464GFD289</lei>
        <title>GRENKE AG /EUR/ 0.00000000</title>
        <cusip>D2854Z135</cusip>
        <identifiers>
          <isin value="DE000A161N30"/>
        </identifiers>
        <balance>85894.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>1900531.44000000</valUSD>
        <pctVal>1.182510482628</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>KRONES AG /EUR/</name>
        <lei>N/A</lei>
        <title>KRONES AG /EUR/ 0.00000000</title>
        <cusip>D47441171</cusip>
        <identifiers>
          <isin value="DE0006335003"/>
        </identifiers>
        <balance>38000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>4772032.40000000</valUSD>
        <pctVal>2.969158108977</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>EVOTEC SE /EUR/</name>
        <lei>529900F9KI6OYITO9B12</lei>
        <title>EVOTEC SE /EUR/ 0.00000000</title>
        <cusip>D1646D105</cusip>
        <identifiers>
          <isin value="DE0005664809"/>
        </identifiers>
        <balance>81130.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>780203.89000000</valUSD>
        <pctVal>0.485442786735</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="244350.32000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HENSOLDT AG /EUR/</name>
        <lei>894500686FYLLZD3M624</lei>
        <title>HENSOLDT AG /EUR/ 0.00000000</title>
        <cusip>D3R14P109</cusip>
        <identifiers>
          <isin value="DE000HAG0005"/>
        </identifiers>
        <balance>119000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>4378641.89000000</valUSD>
        <pctVal>2.724390570776</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>TUI AG /EUR/</name>
        <lei>529900SL2WSPV293B552</lei>
        <title>TUI AG /EUR/ 0.00000000</title>
        <cusip>D8484K455</cusip>
        <identifiers>
          <isin value="DE000TUAG505"/>
        </identifiers>
        <balance>537000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>3799911.88000000</valUSD>
        <pctVal>2.364304813165</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>UNITED INTERNET AG-REG S /EUR/</name>
        <lei>3VEKWPJHTD4NKMBVG947</lei>
        <title>UNITED INTERNET AG-REG SHARE /EUR/ 0.00000000</title>
        <cusip>D8542B125</cusip>
        <identifiers>
          <isin value="DE0005089031"/>
        </identifiers>
        <balance>109992.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>2371271.33000000</valUSD>
        <pctVal>1.475404797766</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>THYSSENKRUPP AG /EUR/</name>
        <lei>549300UDG16DOYUPR330</lei>
        <title>THYSSENKRUPP AG /EUR/ 0.00000000</title>
        <cusip>D8398Q119</cusip>
        <identifiers>
          <isin value="DE0007500001"/>
        </identifiers>
        <balance>278000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>1202827.33000000</valUSD>
        <pctVal>0.748399051223</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>SCOUT24 SE /EUR/</name>
        <lei>5493007EIKM2ENQS7U66</lei>
        <title>SCOUT24 SE /EUR/ 144A 0.00000000</title>
        <cusip>D345XT105</cusip>
        <identifiers>
          <isin value="DE000A12DM80"/>
        </identifiers>
        <balance>99000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>7552789.20000000</valUSD>
        <pctVal>4.699344727537</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>AURUBIS AG /EUR/</name>
        <lei>5299005SHIN9ZK7GW242</lei>
        <title>AURUBIS AG /EUR/ 0.00000000</title>
        <cusip>D10004105</cusip>
        <identifiers>
          <isin value="DE0006766504"/>
        </identifiers>
        <balance>15700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>1232251.79000000</valUSD>
        <pctVal>0.766706947459</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>KION GROUP AG /EUR/</name>
        <lei>5299005KY91C4C6U9H17</lei>
        <title>KION GROUP AG /EUR/ 0.00000000</title>
        <cusip>D4S14D103</cusip>
        <identifiers>
          <isin value="DE000KGX8881"/>
        </identifiers>
        <balance>60000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>2513096.10000000</valUSD>
        <pctVal>1.563648156277</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>GERRESHEIMER AG /EUR/</name>
        <lei>5299006GD4UWSYZOKC28</lei>
        <title>GERRESHEIMER AG /EUR/ 0.00000000</title>
        <cusip>D2852S109</cusip>
        <identifiers>
          <isin value="DE000A0LD6E6"/>
        </identifiers>
        <balance>42000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>4513800.90000000</valUSD>
        <pctVal>2.808486494044</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>JUNGHEINRICH - PRFD /EUR/</name>
        <lei>529900PHZORTU6FSXE73</lei>
        <title>JUNGHEINRICH - PRFD /EUR/ 0.00000000</title>
        <cusip>D37552102</cusip>
        <identifiers>
          <isin value="DE0006219934"/>
        </identifiers>
        <balance>116000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>3823283.44000000</valUSD>
        <pctVal>2.378846595592</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>FRAPORT AG FRANKFURT AIR /EUR/</name>
        <lei>5299001ERX0K10IZUL40</lei>
        <title>FRAPORT AG FRANKFURT AIRPORT /EUR/ 0.00000000</title>
        <cusip>D3856U108</cusip>
        <identifiers>
          <isin value="DE0005773303"/>
        </identifiers>
        <balance>20000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>1032926.00000000</valUSD>
        <pctVal>0.642686459730</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>FRESENIUS MEDICAL CARE AG &amp; CO /EUR/</name>
        <lei>549300CP8NY40UP89Q40</lei>
        <title>FRESENIUS MEDICAL CARE AG &amp; CO /EUR/ 0.00000000</title>
        <cusip>D2734Z107</cusip>
        <identifiers>
          <isin value="DE0005785802"/>
        </identifiers>
        <balance>90000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>3448515.60000000</valUSD>
        <pctVal>2.145666080908</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>1&amp;1 AG /EUR/</name>
        <lei>N/A</lei>
        <title>1&amp;1 AG /EUR/ 0.00000000</title>
        <cusip>D5934B101</cusip>
        <identifiers>
          <isin value="DE0005545503"/>
        </identifiers>
        <balance>19578.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>334386.56000000</valUSD>
        <pctVal>0.208055286078</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>VOSSLOH AG /EUR/</name>
        <lei>5299003HAEOUVX3HWX43</lei>
        <title>VOSSLOH AG /EUR/ 0.00000000</title>
        <cusip>D9494V101</cusip>
        <identifiers>
          <isin value="DE0007667107"/>
        </identifiers>
        <balance>44000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>2206432.80000000</valUSD>
        <pctVal>1.372842279954</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>BILFINGER SE /EUR/</name>
        <lei>529900H0HULEN2BZ4604</lei>
        <title>BILFINGER SE /EUR/ 0.00000000</title>
        <cusip>D11648108</cusip>
        <identifiers>
          <isin value="DE0005909006"/>
        </identifiers>
        <balance>87157.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>4585386.42000000</valUSD>
        <pctVal>2.853026997833</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>TALANX AG /EUR/</name>
        <lei>N/A</lei>
        <title>TALANX AG /EUR/ 0.00000000</title>
        <cusip>D82827110</cusip>
        <identifiers>
          <isin value="DE000TLX1005"/>
        </identifiers>
        <balance>67000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>5351981.77000000</valUSD>
        <pctVal>3.330002552265</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>STABILUS SE /EUR/</name>
        <lei>529900JOSL94HJN4VZ28</lei>
        <title>STABILUS SE /EUR/ 0.00000000</title>
        <cusip>D76913108</cusip>
        <identifiers>
          <isin value="DE000STAB1L8"/>
        </identifiers>
        <balance>58146.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>2663472.02000000</valUSD>
        <pctVal>1.657212039511</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>RTL GROUP /EUR/</name>
        <lei>N/A</lei>
        <title>RTL GROUP /EUR/ 0.00000000</title>
        <cusip>L80326108</cusip>
        <identifiers>
          <isin value="LU0061462528"/>
        </identifiers>
        <balance>33000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>1004209.80000000</valUSD>
        <pctVal>0.624819242799</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="897212.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BECHTLE AG /EUR/</name>
        <lei>529900HA2QT774RUXW59</lei>
        <title>BECHTLE AG /EUR/ 0.00000000</title>
        <cusip>D0873U103</cusip>
        <identifiers>
          <isin value="DE0005158703"/>
        </identifiers>
        <balance>73000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>3436964.83000000</valUSD>
        <pctVal>2.138479192904</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>HUGO BOSS AG  -ORD /EUR/</name>
        <lei>529900LFVU534EBRXD13</lei>
        <title>HUGO BOSS AG  -ORD /EUR/ 0.00000000</title>
        <cusip>D34902102</cusip>
        <identifiers>
          <isin value="DE000A1PHFF7"/>
        </identifiers>
        <balance>86000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>3849063.73000000</valUSD>
        <pctVal>2.394887089597</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="3849827.14000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SIXT SE /EUR/</name>
        <lei>N/A</lei>
        <title>SIXT SE /EUR/ 0.00000000</title>
        <cusip>D69899116</cusip>
        <identifiers>
          <isin value="DE0007231326"/>
        </identifiers>
        <balance>15000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>1064803.12000000</valUSD>
        <pctVal>0.662520400786</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>DWS</name>
        <lei>N/A</lei>
        <title>DWS Gov and Agency Sec Portfolio DWS Gov Cash Inst Shs</title>
        <cusip>147539670</cusip>
        <identifiers>
          <isin value="US1475396701"/>
        </identifiers>
        <balance>13702210.25000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13702210.25000000</valUSD>
        <pctVal>8.525513924570</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="13702210.25000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DWS</name>
        <lei>N/A</lei>
        <title>DWS CENTRAL CASH MANAGEMENT GOVERNMENT FUND 0.00000000</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="495583"/>
        </identifiers>
        <balance>2093714.76000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2093714.76000000</valUSD>
        <pctVal>1.302709126103</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EVONIK INDUSTRIES AG /EUR/</name>
        <lei>N/A</lei>
        <title>EVONIK INDUSTRIES AG /EUR/ 0.00000000</title>
        <cusip>D2R90Y117</cusip>
        <identifiers>
          <isin value="DE000EVNK013"/>
        </identifiers>
        <balance>140000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>2857690.50000000</valUSD>
        <pctVal>1.778054759440</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>IONOS SE /EUR/</name>
        <lei>N/A</lei>
        <title>IONOS SE /EUR/ 0.00000000</title>
        <cusip>D3R77H101</cusip>
        <identifiers>
          <isin value="DE000A3E00M1"/>
        </identifiers>
        <balance>154000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>4191279.40000000</valUSD>
        <pctVal>2.607813647179</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>DEUTSCHE LUFTHANSA-REG /EUR/</name>
        <lei>529900PH63HYJ86ASW55</lei>
        <title>DEUTSCHE LUFTHANSA-REG /EUR/ 0.00000000</title>
        <cusip>D1908N106</cusip>
        <identifiers>
          <isin value="DE0008232125"/>
        </identifiers>
        <balance>664089.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>4063072.49000000</valUSD>
        <pctVal>2.528043319875</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>DEUTZ AG /EUR/</name>
        <lei>5299005DETTV58V2PP63</lei>
        <title>DEUTZ AG /EUR/ 0.00000000</title>
        <cusip>D39176108</cusip>
        <identifiers>
          <isin value="DE0006305006"/>
        </identifiers>
        <balance>546452.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>3530705.61000000</valUSD>
        <pctVal>2.196804697374</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>SILTRONIC AG /EUR/</name>
        <lei>5299003NKV26NNGHHR90</lei>
        <title>SILTRONIC AG /EUR/ 0.00000000</title>
        <cusip>D6948S114</cusip>
        <identifiers>
          <isin value="DE000WAF3001"/>
        </identifiers>
        <balance>15000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>1163649.00000000</valUSD>
        <pctVal>0.724022297994</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="1162601.29000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STROEER MEDIA AG /EUR/_</name>
        <lei>529900MBF3N1ATE55378</lei>
        <title>STROEER MEDIA AG /EUR/_ 0.00000000</title>
        <cusip>D8169G100</cusip>
        <identifiers>
          <isin value="DE0007493991"/>
        </identifiers>
        <balance>57000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93327111"/>
        <valUSD>3655368.67000000</valUSD>
        <pctVal>2.274370041543</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>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2024-07-30</ncom:dateSigned>
      <ncom:nameOfApplicant>The New Germany Fund, Inc.</ncom:nameOfApplicant>
      <ncom:signature>Diane Kenneally </ncom:signature>
      <ncom:signerName>Diane Kenneally </ncom:signerName>
      <ncom:title>Treasurer and Chief Financial Officer </ncom:title>
    </signature>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
