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      <repPdEnd>2026-08-31</repPdEnd>
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          <other otherDesc="Internal" value="BQ759B3"/>
        </identifiers>
        <balance>3493901.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>858880.68000000</valUSD>
        <pctVal>0.383378184975</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lulu Retail Holdings PLC</name>
        <lei>254900DCVT3654MQIF10</lei>
        <title>LULU RETAIL HOLDINGS PLC</title>
        <cusip>M6745H105</cusip>
        <identifiers>
          <isin value="AEE01487L240"/>
          <other otherDesc="Internal" value="BNG1TF5"/>
        </identifiers>
        <balance>1048776.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>313981.10000000</valUSD>
        <pctVal>0.140151603171</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DUBAI FINANCIAL MARKET - PJSC</name>
        <lei>N/A</lei>
        <title>DUBAI FINANCIAL MARKET PJSC</title>
        <cusip>M28814107</cusip>
        <identifiers>
          <isin value="AED000901010"/>
          <other otherDesc="Internal" value="B1GPBP7"/>
        </identifiers>
        <balance>3612397.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>1585836.73000000</valUSD>
        <pctVal>0.707869231865</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Modon Holding PSC</name>
        <lei>213800AFVSMXPU41HQ02</lei>
        <title>MODON HOLDING PSC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AEA006501018"/>
          <other otherDesc="Internal" value="BF0R9V9"/>
        </identifiers>
        <balance>157462.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>144051.05000000</valUSD>
        <pctVal>0.064300002758</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ADNOC Logistics &amp; Services PLC</name>
        <lei>N/A</lei>
        <title>ADNOC LOGISTICS SERVICES</title>
        <cusip>M0R824109</cusip>
        <identifiers>
          <isin value="AEE01268A239"/>
          <other otherDesc="Internal" value="BRBN103"/>
        </identifiers>
        <balance>1796839.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>2678777.28000000</valUSD>
        <pctVal>1.195724616324</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Abu Dhabi Commercial Bank PJSC</name>
        <lei>213800RWVKKIRX1AUH58</lei>
        <title>ABU DHABI COMMERCIAL BANK PJSC</title>
        <cusip>M0152Q104</cusip>
        <identifiers>
          <isin value="AEA000201011"/>
          <other otherDesc="Internal" value="6545464"/>
        </identifiers>
        <balance>2435499.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>10050774.08000000</valUSD>
        <pctVal>4.486359530632</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>R.A.K. Ceramics P.J.S.C.</name>
        <lei>254900U1CDJDDJXKXN72</lei>
        <title>RAS AL KHAIMAH CERAMICS PJSC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AER000301013"/>
          <other otherDesc="Internal" value="6706636"/>
        </identifiers>
        <balance>1583939.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>1103742.46000000</valUSD>
        <pctVal>0.492677028194</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EMIRATES NBD BANK (P.J.S.C)</name>
        <lei>54930029BCN8HF3B1286</lei>
        <title>EMIRATES NBD BANK PJSC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AEE000801010"/>
          <other otherDesc="Internal" value="B28PFX8"/>
        </identifiers>
        <balance>2102806.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>18892364.11000000</valUSD>
        <pctVal>8.432976117704</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Abu Dhabi National Hotels Company PJSC</name>
        <lei>N/A</lei>
        <title>ABU DHABI NATIONAL HOTELS</title>
        <cusip>M0152U105</cusip>
        <identifiers>
          <isin value="AEA000301019"/>
          <other otherDesc="Internal" value="B15CLM6"/>
        </identifiers>
        <balance>15855751.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>2245560.95000000</valUSD>
        <pctVal>1.002350036868</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ABU DHABI NATIONAL OIL COMPANY FOR DISTRIBUTION PJSC</name>
        <lei>N/A</lei>
        <title>ABU DHABI NATIONAL OIL CO FOR DISTRIBUTION PJSC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AEA006101017"/>
          <other otherDesc="Internal" value="BYVGM64"/>
        </identifiers>
        <balance>4427977.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>4822125.48000000</valUSD>
        <pctVal>2.152449993692</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALDAR PROPERTIES PJSC</name>
        <lei>98450048CD8AEF13B480</lei>
        <title>ALDAR PROPERTIES PJSC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AEA002001013"/>
          <other otherDesc="Internal" value="B0LX3Y2"/>
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        <balance>3475851.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>10220516.23000000</valUSD>
        <pctVal>4.562127258206</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DANA GAS CO.(P.J.S)</name>
        <lei>254900RDMPHWDEJBUW56</lei>
        <title>DANA GAS PJSC</title>
        <cusip>M27014105</cusip>
        <identifiers>
          <isin value="AED000701014"/>
          <other otherDesc="Internal" value="B0VR4L8"/>
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        <balance>9908970.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>2538582.59000000</valUSD>
        <pctVal>1.133145975254</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GREAT BRITISH POUND</name>
        <lei>N/A</lei>
        <title>GREAT BRITISH POUND</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="Internal" value="GBP"/>
        </identifiers>
        <balance>57.12000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74203200"/>
        <valUSD>76.98000000</valUSD>
        <pctVal>0.000034361528</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetConditional assetCat="OTHER" desc="currency"/>
        <issuerConditional desc="currency" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DUBAI TAXI COMPANY P.J.S.C.</name>
        <lei>N/A</lei>
        <title>DUBAI TAXI CO PJSC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AEE01356D236"/>
          <other otherDesc="Internal" value="BQ7VXK8"/>
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        <balance>1693532.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>1242733.24000000</valUSD>
        <pctVal>0.554718280495</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AIR ARABIA PJSC</name>
        <lei>21380058Y5RCZI2HBX17</lei>
        <title>AIR ARABIA PJSC</title>
        <cusip>M0367N110</cusip>
        <identifiers>
          <isin value="AEA003001012"/>
          <other otherDesc="Internal" value="B23DL40"/>
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        <balance>3401021.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>5010914.05000000</valUSD>
        <pctVal>2.236719463243</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ajman Bank PJSC</name>
        <lei>254900AI4SJIWRIO1C04</lei>
        <title>AJMAN BANK PJSC</title>
        <cusip>M0371T103</cusip>
        <identifiers>
          <isin value="AEA003201018"/>
          <other otherDesc="Internal" value="B3B53V6"/>
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        <balance>2742757.00000000</balance>
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        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>1187292.20000000</valUSD>
        <pctVal>0.529971088268</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SHARJAH ISLAMIC BANK PJSC</name>
        <lei>254900ZQNTQPRR3WFS97</lei>
        <title>SHARJAH ISLAMIC BANK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AES000201013"/>
          <other otherDesc="Internal" value="B102875"/>
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        <balance>2473107.00000000</balance>
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        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>2524918.32000000</valUSD>
        <pctVal>1.127046661166</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</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>
      <invstOrSec>
        <name>INVESTCORP CAPITAL PLC</name>
        <lei>213800CSW4HGPDPLPV23</lei>
        <title>INVESTCORP CAPITAL PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AEE01354I230"/>
          <other otherDesc="Internal" value="BN49J62"/>
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        <balance>2092593.00000000</balance>
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        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>827149.62000000</valUSD>
        <pctVal>0.369214405916</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ADNOC DRILLING COMPANY P.J.S.C.</name>
        <lei>N/A</lei>
        <title>ADNOC DRILLING CO PJSC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AEA007301012"/>
          <other otherDesc="Internal" value="BN12D39"/>
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        <balance>4291192.00000000</balance>
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        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>5981650.95000000</valUSD>
        <pctVal>2.670026859110</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</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>Dubai Electricity and Water Authority PJSC</name>
        <lei>N/A</lei>
        <title>DUBAI ELECTRICITY WATER AUTHORITY PJSC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AED001801011"/>
          <other otherDesc="Internal" value="BJLTVJ4"/>
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        <balance>7061402.00000000</balance>
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        <pctVal>2.575663916076</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MSCI EMGMKT MAR26</name>
        <lei>N/A</lei>
        <title>MSCI EMGMKT MAR26</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <ticker value="MMEH26"/>
          <other otherDesc="INTERNAL" value="MESH62025"/>
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        <balance>8.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-8848.56000000</valUSD>
        <pctVal>-0.00394972776</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Index Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>ICE FUTURES U.S.</counterpartyName>
              <counterpartyLei>5493004R83R1LVX2IL36</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>US MSCI Emerging Markets Equity Index Future Mar 2026</indexName>
                <indexIdentifier>MMEH26</indexIdentifier>
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            <expDate>2026-03-20</expDate>
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            <unrealizedAppr>-8848.56000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Americana Restaurants International PLC</name>
        <lei>N/A</lei>
        <title>AMERICANA RESTAURANTS INTERNATIONAL PLC</title>
        <cusip>M0859X105</cusip>
        <identifiers>
          <isin value="AEE01135A222"/>
          <other otherDesc="Internal" value="BPCMH29"/>
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        <balance>4866509.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>2471705.78000000</valUSD>
        <pctVal>1.103294203487</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMLAK FINANCE (P.J.S.C)</name>
        <lei>N/A</lei>
        <title>AMLAK FINANCE PJSC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AEA001201010"/>
          <other otherDesc="Internal" value="B00LTK5"/>
        </identifiers>
        <balance>2248753.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>979568.70000000</valUSD>
        <pctVal>0.437249642482</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SALIK COMPANY P.J.S.C.</name>
        <lei>N/A</lei>
        <title>SALIK CO PJSC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AEE01110S227"/>
          <other otherDesc="Internal" value="BJN5952"/>
        </identifiers>
        <balance>2190846.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>3817376.40000000</valUSD>
        <pctVal>1.703960596252</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dubai Islamic Bank P.J.S.C.</name>
        <lei>5493003E7YRAQY3JGW88</lei>
        <title>DUBAI ISLAMIC BANK PJSC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AED000201015"/>
          <other otherDesc="Internal" value="6283452"/>
        </identifiers>
        <balance>3430399.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>7747781.85000000</valUSD>
        <pctVal>3.458373918997</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UN. ARAB EMIRATES DIRHAM</name>
        <lei>N/A</lei>
        <title>UNITED ARAB EMIRATES DIRHAM</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="Internal" value="AED"/>
        </identifiers>
        <balance>114674.05000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>31220.39000000</valUSD>
        <pctVal>0.013935831520</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetConditional assetCat="OTHER" desc="currency"/>
        <issuerConditional desc="currency" issuerCat="OTHER"/>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NMDC ENERGY PJSC</name>
        <lei>98450002B5J792BUCB43</lei>
        <title>NMDC ENERGY</title>
        <cusip>M73023109</cusip>
        <identifiers>
          <isin value="AEE01456N241"/>
          <other otherDesc="Internal" value="BQB80S2"/>
        </identifiers>
        <balance>202083.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>147408.83000000</valUSD>
        <pctVal>0.065798813514</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Spinneys 1961 Holding PLC</name>
        <lei>N/A</lei>
        <title>SPINNEYS 1961 HOLDING PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AEE01377S248"/>
          <other otherDesc="Internal" value="BQ68C25"/>
        </identifiers>
        <balance>2650297.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>1082328.17000000</valUSD>
        <pctVal>0.483118341144</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SHUAA CAPITAL (P.S.C)</name>
        <lei>254900D60M5I1CGMIA09</lei>
        <title>SHUAA CAPITAL PSC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AES000101015"/>
          <other otherDesc="Internal" value="6344832"/>
        </identifiers>
        <balance>6669531.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>411912.91000000</valUSD>
        <pctVal>0.183865381398</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Alef Education Holding PLC</name>
        <lei>N/A</lei>
        <title>ALEF EDUCATION HOLDING PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AEE01388A243"/>
          <other otherDesc="Internal" value="BS4DNW3"/>
        </identifiers>
        <balance>3942897.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>1073466.74000000</valUSD>
        <pctVal>0.479162868599</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Abu Dhabi Islamic Bank PJSC</name>
        <lei>5493006DOLY8O98XHD74</lei>
        <title>ABU DHABI ISLAMIC BANK PJSC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AEA000801018"/>
          <other otherDesc="Internal" value="6001728"/>
        </identifiers>
        <balance>1566044.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>10874664.67000000</valUSD>
        <pctVal>4.854119204785</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Emirates Telecommunications Group Company PJSC</name>
        <lei>529900XDPQPWEQ9BGB80</lei>
        <title>EMIRATES TELECOMMUNICATIONS GROUP CO PJSC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AEE000401019"/>
          <other otherDesc="Internal" value="6322173"/>
        </identifiers>
        <balance>3901113.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>21539203.56000000</valUSD>
        <pctVal>9.614444659136</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="non-U.S. government agency" issuerCat="OTHER"/>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Gulf Navigation Holding PJSC</name>
        <lei>984500854E13DB5DMB85</lei>
        <title>GULF NAVIGATION HOLDING PJSC</title>
        <cusip>M5245S108</cusip>
        <identifiers>
          <isin value="AEG000601019"/>
          <other otherDesc="Internal" value="B16B4G7"/>
        </identifiers>
        <balance>761100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>422712.46000000</valUSD>
        <pctVal>0.188685971701</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Agthia Group PJSC</name>
        <lei>984500EB43881B7AD148</lei>
        <title>AGTHIA GROUP PJSC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AEA001901015"/>
          <other otherDesc="Internal" value="B0LWKV5"/>
        </identifiers>
        <balance>891552.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>925769.25000000</valUSD>
        <pctVal>0.413235206049</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Two Point Zero Group P.J.S.C</name>
        <lei>N/A</lei>
        <title>TWO POINT ZERO GROUP PJSC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AEM001001019"/>
          <other otherDesc="Internal" value="BP0PMS1"/>
        </identifiers>
        <balance>502537.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>272123.33000000</valUSD>
        <pctVal>0.121467569098</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PARKIN COMPANY P.J.S.C.</name>
        <lei>N/A</lei>
        <title>PARKIN CO PJSC</title>
        <cusip>M75283107</cusip>
        <identifiers>
          <isin value="AEE01370P249"/>
          <other otherDesc="Internal" value="BRRGQF6"/>
        </identifiers>
        <balance>1349933.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>2166403.19000000</valUSD>
        <pctVal>0.967016422942</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Al Waha Capital PJSC</name>
        <lei>2549004ABNJPGWQCUU67</lei>
        <title>AL WAHA CAPITAL PJSC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AEA000701010"/>
          <other otherDesc="Internal" value="B1X5Y51"/>
        </identifiers>
        <balance>2791551.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>1679503.96000000</valUSD>
        <pctVal>0.749679431425</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AGILITY GLOBAL PLC</name>
        <lei>254900GCYJAY76VZD570</lei>
        <title>AGILITY GLOBAL PLC</title>
        <cusip>M0R82C101</cusip>
        <identifiers>
          <isin value="AEE01376A248"/>
          <other otherDesc="Internal" value="BRJRYF3"/>
        </identifiers>
        <balance>5667100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>2129183.65000000</valUSD>
        <pctVal>0.950402753520</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EMAAR PROPERTIES (P.J.S.C)</name>
        <lei>254900YWYEXYXK1BMP81</lei>
        <title>EMAAR PROPERTIES PJSC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AEE000301011"/>
          <other otherDesc="Internal" value="B01RM25"/>
        </identifiers>
        <balance>7568892.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>33404657.43000000</valUSD>
        <pctVal>14.91082199597</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Emirates Central Cooling Systems Corporation PJSC</name>
        <lei>N/A</lei>
        <title>EMIRATES CENTRAL COOLING SYSTEMS CORP</title>
        <cusip>M4R2AB109</cusip>
        <identifiers>
          <isin value="AEE01134E227"/>
          <other otherDesc="Internal" value="BPYSVC3"/>
        </identifiers>
        <balance>4121813.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>1997475.43000000</valUSD>
        <pctVal>0.891612214268</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GULF GENERAL INVESTMENT CO</name>
        <lei>N/A</lei>
        <title>GULF GENERAL INVESTMENT CO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AEG000301016"/>
          <other otherDesc="Internal" value="B125MW5"/>
        </identifiers>
        <balance>7295803.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>19.86000000</valUSD>
        <pctVal>0.000008864899</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dubai Residential REIT</name>
        <lei>N/A</lei>
        <title>DUBAI RESIDENTIAL REIT</title>
        <cusip>M28898100</cusip>
        <identifiers>
          <isin value="AEE01657D252"/>
          <other otherDesc="Internal" value="BSTQTQ3"/>
        </identifiers>
        <balance>2001534.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AED" exchangeRt="3.67305000"/>
        <valUSD>761938.04000000</valUSD>
        <pctVal>0.340105942119</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="UNITS"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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

      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>




    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-03-30</ncom:dateSigned>
      <ncom:nameOfApplicant>iShares Trust</ncom:nameOfApplicant>
      <ncom:signature>Chuck Pulsfort </ncom:signature>
      <ncom:signerName>Chuck Pulsfort </ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>