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      <invstOrSec>
        <name>KING YUAN ELECTRONICS CO., LTD.</name>
        <lei>N/A</lei>
        <title>KING YUAN ELECTRONICS CO LTD</title>
        <cusip>N/A</cusip>
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          <isin value="TW0002449006"/>
          <other otherDesc="Internal" value="6352493"/>
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        <invCountry>TW</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PharmaEssentia Corp</name>
        <lei>N/A</lei>
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          <isin value="TW0006446008"/>
          <other otherDesc="Internal" value="BJTCKZ4"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>E.SUN FINANCIAL HOLDING COMPANY,LTD.</name>
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        <title>E SUN FINANCIAL HOLDING CO LTD</title>
        <cusip>N/A</cusip>
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          <isin value="TW0002884004"/>
          <other otherDesc="Internal" value="6433912"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNI-PRESIDENT ENTERPRISES CORP.</name>
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        <title>UNI PRESIDENT ENTERPRISES CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0001216000"/>
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        <assetCat>EC</assetCat>
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        <invCountry>TW</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ELITE MATERIAL CO., LTD.</name>
        <lei>N/A</lei>
        <title>ELITE MATERIAL CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0002383007"/>
          <other otherDesc="Internal" value="6316121"/>
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        <assetCat>EC</assetCat>
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        <invCountry>TW</invCountry>
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        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>China Steel Corporation</name>
        <lei>529900D3N7UIJMVJ9120</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0002002003"/>
          <other otherDesc="Internal" value="6190950"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>YA HSIN INDUSTRIAL CO LTD</name>
        <lei>N/A</lei>
        <title>YA HSIN INDUSTRIAL CO LTD</title>
        <cusip>Y9724W132</cusip>
        <identifiers>
          <isin value="TW0002418001"/>
          <other otherDesc="Internal" value="6115834"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GOLD CIRCUIT ELECTRONICS LTD.</name>
        <lei>N/A</lei>
        <title>GOLD CIRCUIT ELECTRONICS LTD</title>
        <cusip>N/A</cusip>
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          <isin value="TW0002368008"/>
          <other otherDesc="Internal" value="6107585"/>
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        <balance>2461000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GLOBALWAFERS CO., LTD.</name>
        <lei>529900V6RTNF3U5EGX67</lei>
        <title>GLOBALWAFERS CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0006488000"/>
          <other otherDesc="Internal" value="BS7JP33"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LOTES CO., LTD</name>
        <lei>N/A</lei>
        <title>LOTES CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0003533006"/>
          <other otherDesc="Internal" value="B1GJFG8"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CHROMA ATE INC.</name>
        <lei>N/A</lei>
        <title>CHROMA ATE INC</title>
        <cusip>N/A</cusip>
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          <isin value="TW0002360005"/>
          <other otherDesc="Internal" value="6212100"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Asia Vital Components Co., Ltd.</name>
        <lei>N/A</lei>
        <title>ASIA VITAL COMPONENTS CO LTD</title>
        <cusip>N/A</cusip>
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          <isin value="TW0003017000"/>
          <other otherDesc="Internal" value="6544892"/>
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        <assetCat>EC</assetCat>
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        <invCountry>TW</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ZHEN DING TECHNOLOGY HOLDING LIMITED</name>
        <lei>549300H7R4K33675UP38</lei>
        <title>ZHEN DING TECHNOLOGY HOLDING LTD</title>
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          <isin value="KYG989221000"/>
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        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Aspeed Technology Inc</name>
        <lei>N/A</lei>
        <title>ASPEED TECHNOLOGY INC</title>
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          <isin value="TW0005274005"/>
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        <assetCat>EC</assetCat>
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        <invCountry>TW</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Chunghwa Telecom Co., Ltd.</name>
        <lei>N/A</lei>
        <title>CHUNGHWA TELECOM CO LTD</title>
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      <invstOrSec>
        <name>International Games System Co Ltd</name>
        <lei>N/A</lei>
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        <name>CHANG HWA COMMERCIAL BANK, LTD.</name>
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        <name>KGI Financial Holding Co., Ltd.</name>
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        <name>WAN HAI LINES LTD.</name>
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        <name>BlackRock Funds III: BlackRock Cash Funds: Institutional; SL Agency Shares</name>
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        <name>Taiwan High Speed Rail Corporation</name>
        <lei>N/A</lei>
        <title>TAIWAN HIGH SPEED RAIL CORP</title>
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        <invCountry>TW</invCountry>
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        <name>HUA NAN FINANCIAL HOLDINGS CO., LTD.</name>
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        <title>HUA NAN FINANCIAL HOLDINGS CO LTD</title>
        <cusip>N/A</cusip>
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      </invstOrSec>
      <invstOrSec>
        <name>INVENTEC CORPORATION</name>
        <lei>391200XSJU5WEVAXB086</lei>
        <title>INVENTEC CORP</title>
        <cusip>N/A</cusip>
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          <isin value="TW0002356003"/>
          <other otherDesc="Internal" value="6459930"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>TW</invCountry>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Pegatron Corporation</name>
        <lei>529900M87JQS8TUO0L66</lei>
        <title>PEGATRON CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0004938006"/>
          <other otherDesc="Internal" value="B4PLX17"/>
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        <balance>20543037.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>JENTECH PRECISION INDUSTRIAL CO., LTD</name>
        <lei>N/A</lei>
        <title>JENTECH PRECISION INDUSTRIAL CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0003653002"/>
          <other otherDesc="Internal" value="B3FJBY3"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ADVANTECH Co., Ltd.</name>
        <lei>2549002OSTKE9HB9IY03</lei>
        <title>ADVANTECH CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0002395001"/>
          <other otherDesc="Internal" value="6202673"/>
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        <balance>4807021.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HON HAI PRECISION INDUSTRY CO., LTD.</name>
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        <title>HON HAI PRECISION INDUSTRY CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0002317005"/>
          <other otherDesc="Internal" value="6438564"/>
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        <balance>52945296.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LARGAN Precision Co Ltd</name>
        <lei>N/A</lei>
        <title>LARGAN PRECISION CO LTD</title>
        <cusip>Y52144105</cusip>
        <identifiers>
          <isin value="TW0003008009"/>
          <other otherDesc="Internal" value="6451668"/>
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        <balance>775794.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fubon Financial Holding Co., Ltd.</name>
        <lei>549300G7Y2TS2XNIB476</lei>
        <title>FUBON FINANCIAL HOLDING CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0002881000"/>
          <other otherDesc="Internal" value="6411673"/>
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        <balance>45702419.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Far EasTone Telecommunications Co., Ltd.</name>
        <lei>N/A</lei>
        <title>FAR EASTONE TELECOMMUNICATIONS CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0004904008"/>
          <other otherDesc="Internal" value="6421854"/>
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        <balance>16461259.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Formosa Plastics Corporation</name>
        <lei>N/A</lei>
        <title>FORMOSA PLASTICS CORP</title>
        <cusip>N/A</cusip>
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          <isin value="TW0001301000"/>
          <other otherDesc="Internal" value="6348544"/>
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        <balance>33890518.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHAILEASE HOLDING COMPANY LIMITED</name>
        <lei>529900L76E6T0JCM3J27</lei>
        <title>CHAILEASE HOLDING CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG202881093"/>
          <other otherDesc="Internal" value="B58J1S8"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ASE Technology Holding Co., Ltd.</name>
        <lei>N/A</lei>
        <title>ASE TECHNOLOGY HOLDING CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0003711008"/>
          <other otherDesc="Internal" value="BFXZDY1"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>E INK HOLDINGS INC.</name>
        <lei>N/A</lei>
        <title>E INK HOLDINGS INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0008069006"/>
          <other otherDesc="Internal" value="6744283"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CTBC Financial Holding Co., Ltd.</name>
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        <title>CTBC FINANCIAL HOLDING CO LTD</title>
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          <isin value="TW0002891009"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NAN YA PLASTICS CORPORATION</name>
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        <assetCat>EC</assetCat>
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        <invCountry>TW</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HOTAI MOTOR CO.,LTD.</name>
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        <title>HOTAI MOTOR CO LTD</title>
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        <assetCat>EC</assetCat>
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        <invCountry>TW</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UNITED MICROELECTRONICS CORP.</name>
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        <title>UNITED MICROELECTRONICS CORP</title>
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        <invCountry>TW</invCountry>
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      <invstOrSec>
        <name>Accton Technology Corp.</name>
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      <invstOrSec>
        <name>CATCHER TECHNOLOGY CO., LTD.</name>
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      <invstOrSec>
        <name>Compal Electronics, Inc.</name>
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        <invCountry>TW</invCountry>
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      <invstOrSec>
        <name>THE SHANGHAI COMMERCIAL &amp; SAVINGS BANK, LTD.</name>
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        <title>SHANGHAI COMMERCIAL SAVINGS BANK LTD THE</title>
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        <invCountry>TW</invCountry>
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      <invstOrSec>
        <name>eMemory Technology Inc</name>
        <lei>N/A</lei>
        <title>EMEMORY TECHNOLOGY INC</title>
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        <assetCat>EC</assetCat>
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        <invCountry>TW</invCountry>
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      <invstOrSec>
        <name>Wiwynn Corporation</name>
        <lei>254900FV2R15PMKXFL69</lei>
        <title>WIWYNN CORP</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="31166459.00551900"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Far Eastern New Century Corporation</name>
        <lei>254900CDLU5OS06M6K24</lei>
        <title>FAR EASTERN NEW CENTURY CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0001402006"/>
          <other otherDesc="Internal" value="6331470"/>
        </identifiers>
        <balance>42714843.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="31.21100000"/>
        <valUSD>39290913.37000000</valUSD>
        <pctVal>0.446769419274</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="5221024.08963800"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>China Airlines Ltd.</name>
        <lei>25490032B2A0G6D0JP27</lei>
        <title>CHINA AIRLINES LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0002610003"/>
          <other otherDesc="Internal" value="6189657"/>
        </identifiers>
        <balance>40538000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="31.21100000"/>
        <valUSD>27090347.48000000</valUSD>
        <pctVal>0.308039131022</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="4705292.23461100"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cathay Financial Holding Co., Ltd.</name>
        <lei>5299009XR1QLFAMQ3X77</lei>
        <title>CATHAY FINANCIAL HOLDING CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0002882008"/>
          <other otherDesc="Internal" value="6425663"/>
        </identifiers>
        <balance>48226798.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="31.21100000"/>
        <valUSD>122302682.73000000</valUSD>
        <pctVal>1.390680283363</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="7607970.32782400"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PRESIDENT CHAIN STORE CORPORATION</name>
        <lei>N/A</lei>
        <title>PRESIDENT CHAIN STORE CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0002912003"/>
          <other otherDesc="Internal" value="6704986"/>
        </identifiers>
        <balance>6246215.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="31.21100000"/>
        <valUSD>44734322.94000000</valUSD>
        <pctVal>0.508665382587</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="3101071.90242600"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TAIWAN MOBILE CO., LTD.</name>
        <lei>N/A</lei>
        <title>TAIWAN MOBILE CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0003045001"/>
          <other otherDesc="Internal" value="6290496"/>
        </identifiers>
        <balance>14989609.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="31.21100000"/>
        <valUSD>51524449.24000000</valUSD>
        <pctVal>0.585874602827</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="24346710.70919300"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BIZLINK HOLDING INC.</name>
        <lei>213800YAKRFVU5XOX138</lei>
        <title>BIZLINK HOLDING INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG114741062"/>
          <other otherDesc="Internal" value="B5SG8Y4"/>
        </identifiers>
        <balance>1304000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="31.21100000"/>
        <valUSD>57622580.55000000</valUSD>
        <pctVal>0.655215281126</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNIMICRON TECHNOLOGY CORP.</name>
        <lei>N/A</lei>
        <title>UNIMICRON TECHNOLOGY CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0003037008"/>
          <other otherDesc="Internal" value="6137720"/>
        </identifiers>
        <balance>9715617.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="31.21100000"/>
        <valUSD>146962970.20000000</valUSD>
        <pctVal>1.671087669375</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HonPrecision Inc</name>
        <lei>N/A</lei>
        <title>HON PRECISION INC</title>
        <cusip>Y3699E102</cusip>
        <identifiers>
          <isin value="TW0007769002"/>
          <other otherDesc="Internal" value="BSMS289"/>
        </identifiers>
        <balance>461000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="31.21100000"/>
        <valUSD>71699673.12000000</valUSD>
        <pctVal>0.815283193351</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Taiwan Cooperative Financial Holding Co., Ltd.</name>
        <lei>N/A</lei>
        <title>TAIWAN COOPERATIVE FINANCIAL HOLDING CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0005880009"/>
          <other otherDesc="Internal" value="B73XCZ3"/>
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        <balance>77689020.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="31.21100000"/>
        <valUSD>59307147.20000000</valUSD>
        <pctVal>0.674370164517</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PACIFIC ELECTRIC WIRE CABLE CO LTD</name>
        <lei>N/A</lei>
        <title>PACIFIC ELECTRIC WIRE CABLE CO LTD</title>
        <cusip>Y6606T104</cusip>
        <identifiers>
          <isin value="TW0001602001"/>
          <other otherDesc="Internal" value="6666138"/>
        </identifiers>
        <balance>197.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="31.21100000"/>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Global Unichip Corp</name>
        <lei>N/A</lei>
        <title>GLOBAL UNICHIP CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0003443008"/>
          <other otherDesc="Internal" value="B056381"/>
        </identifiers>
        <balance>820000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="31.21100000"/>
        <valUSD>71805743.24000000</valUSD>
        <pctVal>0.816489296286</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1751359.59121900"/>
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      </invstOrSec>
      <invstOrSec>
        <name>YAGEO CORPORATION</name>
        <lei>5493001P0TOZH7GGNQ21</lei>
        <title>YAGEO CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0002327004"/>
          <other otherDesc="Internal" value="6984380"/>
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        <balance>10943836.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="31.21100000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1124065.43336300"/>
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      </invstOrSec>
      <invstOrSec>
        <name>TS Financial Holding Co., Ltd</name>
        <lei>254900NDEO99JV07HK17</lei>
        <title>TS FINANCIAL HOLDING CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0002887007"/>
          <other otherDesc="Internal" value="6451680"/>
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        <balance>152226483.00000000</balance>
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        <currencyConditional curCd="TWD" exchangeRt="31.21100000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TECO ELECTRIC &amp; MACHINERY CO., LTD.</name>
        <lei>N/A</lei>
        <title>TECO ELECTRIC AND MACHINERY CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0001504009"/>
          <other otherDesc="Internal" value="6879851"/>
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        <balance>15755000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mega Financial Holding Company Ltd.</name>
        <lei>N/A</lei>
        <title>MEGA FINANCIAL HOLDING CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0002886009"/>
          <other otherDesc="Internal" value="6444066"/>
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        <balance>66189297.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>FORTUNE ELECTRIC CO., LTD</name>
        <lei>N/A</lei>
        <title>FORTUNE ELECTRIC CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0001519007"/>
          <other otherDesc="Internal" value="6347604"/>
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        <balance>1698980.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Formosa Chemicals And Fibre Corporation</name>
        <lei>N/A</lei>
        <title>FORMOSA CHEMICALS FIBRE CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0001326007"/>
          <other otherDesc="Internal" value="6348715"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EVA AIRWAYS CORPORATION</name>
        <lei>254900S1P4XOXV67GC07</lei>
        <title>EVA AIRWAYS CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0002618006"/>
          <other otherDesc="Internal" value="6186023"/>
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        <balance>34155000.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>TAIWAN BUSINESS BANK, LTD.</name>
        <lei>254900930YMK9AXL9O17</lei>
        <title>TAIWAN BUSINESS BANK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0002834009"/>
          <other otherDesc="Internal" value="6098816"/>
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        <balance>85100696.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>LITE-ON TECHNOLOGY CORPORATION</name>
        <lei>2549005GU1PQ73SZBT32</lei>
        <title>LITE ON TECHNOLOGY CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0002301009"/>
          <other otherDesc="Internal" value="6519481"/>
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        <balance>13520071.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>AIRTAC INTERNATIONAL GROUP</name>
        <lei>N/A</lei>
        <title>AIRTAC INTERNATIONAL GROUP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG014081064"/>
          <other otherDesc="Internal" value="B52J816"/>
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        <balance>1285826.00000000</balance>
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        <valUSD>49197855.97000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Innolux Corporation</name>
        <lei>3003007EXL0825P1MJ10</lei>
        <title>INNOLUX CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0003481008"/>
          <other otherDesc="Internal" value="B0CC0M5"/>
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        <balance>82270296.00000000</balance>
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        <valUSD>69818197.60000000</valUSD>
        <pctVal>0.793889297070</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="39006226.69801200"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DELTA ELECTRONICS, INC.</name>
        <lei>529900UVZWNWGDLJSM52</lei>
        <title>DELTA ELECTRONICS INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0002308004"/>
          <other otherDesc="Internal" value="6260734"/>
        </identifiers>
        <balance>8721180.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="31.21100000"/>
        <valUSD>393271305.45000000</valUSD>
        <pctVal>4.471812378059</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EVERGREEN MARINE CORP. (TAIWAN) LTD.</name>
        <lei>254900EIJA0A39C5SO15</lei>
        <title>EVERGREEN MARINE CORP TAIWAN LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0002603008"/>
          <other otherDesc="Internal" value="6324500"/>
        </identifiers>
        <balance>8906013.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="31.21100000"/>
        <valUSD>55891837.39000000</valUSD>
        <pctVal>0.635535333520</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="19517556.76562500"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Yuanta Financial Holding Co., Ltd</name>
        <lei>N/A</lei>
        <title>YUANTA FINANCIAL HOLDING CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0002885001"/>
          <other otherDesc="Internal" value="6424110"/>
        </identifiers>
        <balance>66954838.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="31.21100000"/>
        <valUSD>104339385.00000000</valUSD>
        <pctVal>1.186423079681</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BlackRock Funds III: BlackRock Cash Funds: Treasury; SL Agency Shares</name>
        <lei>N/A</lei>
        <title>BLACKROCK CASH FUNDS TREASURY</title>
        <cusip>066922477</cusip>
        <identifiers>
          <isin value="US0669224778"/>
          <other otherDesc="Internal" value="066922477"/>
        </identifiers>
        <balance>5417166.06000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5417166.06000000</valUSD>
        <pctVal>0.061597553407</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>Vanguard International Semiconductor Corporation</name>
        <lei>2549001S5Q158BIJJO13</lei>
        <title>VANGUARD INTERNATIONAL SEMICONDUCTOR CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0005347009"/>
          <other otherDesc="Internal" value="6109677"/>
        </identifiers>
        <balance>11884539.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="31.21100000"/>
        <valUSD>50383292.40000000</valUSD>
        <pctVal>0.572898727874</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="17902978.29854300"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Asia Cement Corporation</name>
        <lei>N/A</lei>
        <title>ASIA CEMENT CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0001102002"/>
          <other otherDesc="Internal" value="6056331"/>
        </identifiers>
        <balance>30790136.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="31.21100000"/>
        <valUSD>35254540.18000000</valUSD>
        <pctVal>0.400872596029</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="6550514.24163100"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Taiwan Semiconductor Manufacturing Co., Ltd.</name>
        <lei>549300KB6NK5SBD14S87</lei>
        <title>TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0002330008"/>
          <other otherDesc="Internal" value="6889106"/>
        </identifiers>
        <balance>30903467.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="31.21100000"/>
        <valUSD>1928319531.14000000</valUSD>
        <pctVal>21.92655052302</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</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 Inc.</ncom:nameOfApplicant>
      <ncom:signature>Chuck Pulsfort </ncom:signature>
      <ncom:signerName>Chuck Pulsfort </ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>