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                <valUSD>17225935.3</valUSD>
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                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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                    <isLoanByFund>N</isLoanByFund>
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            </invstOrSec>
            <invstOrSec>
                <name>META PLATFORMS INC</name>
                <lei>BQ4BKCS1HXDV9HN80Z93</lei>
                <title>COMMON STOCK</title>
                <cusip>30303M102</cusip>
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                    <isin value="US30303M1027"/>
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                <balance>253385</balance>
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                <curCd>USD</curCd>
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                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CHUY'S HOLDINGS INC</name>
                <lei>N/A</lei>
                <title>COMMON STOCK</title>
                <cusip>171604101</cusip>
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                    <isin value="US1716041017"/>
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                <balance>287143</balance>
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                <curCd>USD</curCd>
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                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            </invstOrSec>
            <invstOrSec>
                <name>BERRY GLOBAL GROUP INC</name>
                <lei>549300G6KKUMMXM8NH73</lei>
                <title>COMMON STOCK</title>
                <cusip>08579W103</cusip>
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                    <isin value="US08579W1036"/>
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                <balance>174710</balance>
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                <curCd>USD</curCd>
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                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>ABBVIE INC</name>
                <lei>FR5LCKFTG8054YNNRU85</lei>
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                <cusip>00287Y109</cusip>
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                    <isin value="US00287Y1091"/>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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                    <isLoanByFund>N</isLoanByFund>
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            </invstOrSec>
            <invstOrSec>
                <name>ARMADA HOFFLER PROPERTIES INC</name>
                <lei>549300WQRSIV6XZT9313</lei>
                <title>COMMON STOCK</title>
                <cusip>04208T108</cusip>
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                    <isin value="US04208T1088"/>
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                <balance>1143024</balance>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>ANTERO RESOURCES CORP</name>
                <lei>APVBKPOULHUX7YZLKU17</lei>
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                <cusip>03674X106</cusip>
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                    <isin value="US03674X1063"/>
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                <balance>353713</balance>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>GAMING AND LEISURE PROPERTIES INC</name>
                <lei>5493006GWRDBCZYWTM57</lei>
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                <cusip>36467J108</cusip>
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                    <isin value="US36467J1088"/>
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                <balance>748059</balance>
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                <curCd>USD</curCd>
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                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>HILTON WORLDWIDE HOLDINGS INC</name>
                <lei>549300HVGPK36ICB0B89</lei>
                <title>COMMON STOCK</title>
                <cusip>43300A203</cusip>
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                    <isin value="US43300A2033"/>
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                <curCd>USD</curCd>
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                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>ALPHABET INC</name>
                <lei>5493006MHB84DD0ZWV18</lei>
                <title>COMMON STOCK</title>
                <cusip>02079K107</cusip>
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                    <isin value="US02079K1079"/>
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                <balance>1003081</balance>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>GODADDY INC</name>
                <lei>549300J8H1TB0I2CB447</lei>
                <title>COMMON STOCK</title>
                <cusip>380237107</cusip>
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                    <isin value="US3802371076"/>
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                <balance>144297</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>15390718.02</valUSD>
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                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
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                    <isLoanByFund>N</isLoanByFund>
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            <invstOrSec>
                <name>CHARTER COMMUNICATIONS INC</name>
                <lei>0J0XRGZE3PBRFEZ7MV65</lei>
                <title>COMMON STOCK</title>
                <cusip>16119P108</cusip>
                <identifiers>
                    <isin value="US16119P1084"/>
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                <balance>32808</balance>
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                <curCd>USD</curCd>
                <valUSD>12162253.68</valUSD>
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                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
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                    <isLoanByFund>N</isLoanByFund>
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            <invstOrSec>
                <name>DUPONT DE NEMOURS INC</name>
                <lei>5493004JF0SDFLM8GD76</lei>
                <title>COMMON STOCK</title>
                <cusip>26614N102</cusip>
                <identifiers>
                    <isin value="US26614N1028"/>
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                <balance>101881</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>6296245.8</valUSD>
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                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
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                    <isLoanByFund>N</isLoanByFund>
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            <invstOrSec>
                <name>BROADCOM INC</name>
                <lei>549300WV6GIDOZJTV909</lei>
                <title>COMMON STOCK</title>
                <cusip>11135F101</cusip>
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                <balance>34334</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>40514120</valUSD>
                <pctVal>1.013097294067</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
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                    <isLoanByFund>N</isLoanByFund>
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            <invstOrSec>
                <name>PINTEREST INC</name>
                <lei>N/A</lei>
                <title>COMMON STOCK</title>
                <cusip>72352L106</cusip>
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                    <isin value="US72352L1061"/>
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                <balance>139000</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>5208330</valUSD>
                <pctVal>0.130239655449</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>OTIS WORLDWIDE CORP</name>
                <lei>549300ZLBKR8VSU25153</lei>
                <title>COMMON STOCK</title>
                <cusip>68902V107</cusip>
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                    <isin value="US68902V1070"/>
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                <balance>613322</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>54242197.68</valUSD>
                <pctVal>1.356382014316</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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                    <isLoanByFund>N</isLoanByFund>
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            <invstOrSec>
                <name>ROYALTY PHARMA PLC</name>
                <lei>549300FGFN7VOK8BZR03</lei>
                <title>COMMON STOCK</title>
                <cusip>G7709Q104</cusip>
                <identifiers>
                    <isin value="GB00BMVP7Y09"/>
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                <balance>372087</balance>
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                <curCd>USD</curCd>
                <valUSD>10563549.93</valUSD>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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                    <isLoanByFund>N</isLoanByFund>
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            <invstOrSec>
                <name>LESLIE'S INC</name>
                <lei>N/A</lei>
                <title>COMMON STOCK</title>
                <cusip>527064109</cusip>
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                    <isin value="US5270641096"/>
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                <balance>347775</balance>
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                <curCd>USD</curCd>
                <valUSD>2333570.25</valUSD>
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                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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            <invstOrSec>
                <name>DUCKHORN PORTFOLIO INC/THE</name>
                <lei>2549003BCT5CJSKJ9X51</lei>
                <title>COMMON STOCK</title>
                <cusip>26414D106</cusip>
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                <balance>150872</balance>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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            <invstOrSec>
                <name>GXO LOGISTICS INC</name>
                <lei>5493007CNWMXN78JRN66</lei>
                <title>COMMON STOCK</title>
                <cusip>36262G101</cusip>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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            <invstOrSec>
                <name>FIRST WATCH RESTAURANT GROUP INC</name>
                <lei>N/A</lei>
                <title>COMMON STOCK</title>
                <cusip>33748L101</cusip>
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                <balance>297348</balance>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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            <invstOrSec>
                <name>HERTZ GLOBAL HOLDINGS INC</name>
                <lei>549300NBK3K85MH1EX16</lei>
                <title>COMMON STOCK</title>
                <cusip>42806J700</cusip>
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                    <isin value="US42806J7000"/>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                <name>APOLLO ASSET MANAGEMENT INC</name>
                <lei>54930054P2G7ZJB0KM79</lei>
                <title>COMMON STOCK</title>
                <cusip>03769M106</cusip>
                <identifiers>
                    <isin value="US03769M1062"/>
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                <balance>461978</balance>
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                <curCd>USD</curCd>
                <valUSD>46382591.2</valUSD>
                <pctVal>1.159844460068</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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                    <isLoanByFund>N</isLoanByFund>
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            <invstOrSec>
                <name>TPG INC</name>
                <lei>549300NLO4R8MX77XJ02</lei>
                <title>COMMON STOCK</title>
                <cusip>872657101</cusip>
                <identifiers>
                    <isin value="US8726571016"/>
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                <balance>185448</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>7720200.24</valUSD>
                <pctVal>0.193051557650</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
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            </invstOrSec>
            <invstOrSec>
                <name>CONSTELLATION ENERGY CORP</name>
                <lei>549300F8Y20RYGNGV346</lei>
                <title>COMMON STOCK</title>
                <cusip>21037T109</cusip>
                <identifiers>
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                <balance>262028</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>31967416</valUSD>
                <pctVal>0.799378158724</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

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            <invstOrSec>
                <name>WARNER BROS DISCOVERY INC</name>
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            <invstOrSec>
                <name>KENVUE INC</name>
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                <fairValLevel>1</fairValLevel>
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            <invstOrSec>
                <name>MACH NATURAL RESOURCES LP</name>
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            <invstOrSec>
                <name>SMITH DOUGLAS HOMES CORP</name>
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            <invstOrSec>
                <name>MORGAN STANLEY</name>
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            <invstOrSec>
                <name>CVS HEALTH CORP</name>
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                <name>MOLSON COORS BEVERAGE CO</name>
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            <invstOrSec>
                <name>FAIR ISAAC CORP</name>
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            <invstOrSec>
                <name>NORTHROP GRUMMAN CORP</name>
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            <invstOrSec>
                <name>SOUTHWEST AIRLINES CO</name>
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            <invstOrSec>
                <name>APPLE INC</name>
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                <name>CINTAS CORP</name>
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                <name>GARTNER INC</name>
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                <name>UNITED RENTALS INC</name>
                <lei>5323X5O7RN0NKFCDRY08</lei>
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                <name>RAYMOND JAMES FINANCIAL INC</name>
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                <name>NUCOR CORP</name>
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                <name>BANK OF AMERICA CORP</name>
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                <name>EASTMAN CHEMICAL CO</name>
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                <name>PULTEGROUP INC</name>
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                <name>WALT DISNEY CO/THE</name>
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                <name>TENET HEALTHCARE CORP</name>
                <lei>0W9AIBT6U6ADJ2I8HK17</lei>
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                <name>UNITEDHEALTH GROUP INC</name>
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                <name>PROCTER  AND  GAMBLE CO/THE</name>
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                <name>HERSHEY CO/THE</name>
                <lei>21X2CX66SU2BR6QTAD08</lei>
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                <cusip>427866108</cusip>
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                <name>WALMART INC</name>
                <lei>Y87794H0US1R65VBXU25</lei>
                <title>COMMON STOCK</title>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>NCR VOYIX CORP</name>
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                <fairValLevel>1</fairValLevel>
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            <invstOrSec>
                <name>MEDTRONIC PLC</name>
                <lei>549300GX3ZBSQWUXY261</lei>
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                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
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            <invstOrSec>
                <name>BERKSHIRE HATHAWAY INC</name>
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            <invstOrSec>
                <name>QUALCOMM INC</name>
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            <invstOrSec>
                <name>KROGER CO/THE</name>
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            <invstOrSec>
                <name>COCA-COLA CO/THE</name>
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            <invstOrSec>
                <name>HONEYWELL INTERNATIONAL INC</name>
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            <invstOrSec>
                <name>CITIGROUP INC</name>
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            <invstOrSec>
                <name>BIO-RAD LABORATORIES INC</name>
                <lei>549300ZC1GPV35XYDK53</lei>
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            <invstOrSec>
                <name>RTX CORP</name>
                <lei>I07WOS4YJ0N7YRFE7309</lei>
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                <cusip>75513E101</cusip>
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                <assetCat>EC</assetCat>
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                <fairValLevel>1</fairValLevel>
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            <invstOrSec>
                <name>ORACLE CORP</name>
                <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
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                <cusip>68389X105</cusip>
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                <fairValLevel>1</fairValLevel>
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            <invstOrSec>
                <name>MICROSOFT CORP</name>
                <lei>INR2EJN1ERAN0W5ZP974</lei>
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                <cusip>594918104</cusip>
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            <invstOrSec>
                <name>CASEY'S GENERAL STORES INC</name>
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                <name>SNAP-ON INC</name>
                <lei>HHWAT5TDOYZMM26KKQ73</lei>
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                <name>AMAZON.COM INC</name>
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                <name>KEYCORP</name>
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                <name>LAM RESEARCH CORP</name>
                <lei>549300I4GMO6D34U1T02</lei>
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                <cusip>512807108</cusip>
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                <name>MCDONALD'S CORP</name>
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                <name>CONOCOPHILLIPS </name>
                <lei>WPTL2Z3FIYTHSP5V2253</lei>
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                <cusip>20825C104</cusip>
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                <name>XCEL ENERGY INC</name>
                <lei>LGJNMI9GH8XIDG5RCM61</lei>
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                <cusip>98389B100</cusip>
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                <name>LOWE'S COS INC</name>
                <lei>WAFCR4OKGSC504WU3E95</lei>
                <title>COMMON STOCK</title>
                <cusip>548661107</cusip>
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                <name>ADOBE INC</name>
                <lei>FU4LY2G4933NH2E1CP29</lei>
                <title>COMMON STOCK</title>
                <cusip>00724F101</cusip>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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            <invstOrSec>
                <name>BRINKER INTERNATIONAL INC</name>
                <lei>52990067JY6PBGJNTG76</lei>
                <title>COMMON STOCK</title>
                <cusip>109641100</cusip>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
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            <invstOrSec>
                <name>GOLDMAN SACHS GROUP INC/THE</name>
                <lei>784F5XWPLTWKTBV3E584</lei>
                <title>COMMON STOCK</title>
                <cusip>38141G104</cusip>
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                <balance>111820</balance>
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                <assetCat>EC</assetCat>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>MERCK  AND  CO INC</name>
                <lei>4YV9Y5M8S0BRK1RP0397</lei>
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                <cusip>58933Y105</cusip>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            </invstOrSec>
            <invstOrSec>
                <name>FREEPORT-MCMORAN INC</name>
                <lei>549300IRDTHJQ1PVET45</lei>
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                <cusip>35671D857</cusip>
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                    <isin value="US35671D8570"/>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>PG AND E CORP</name>
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                <assetCat>EC</assetCat>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>EXXON MOBIL CORP</name>
                <lei>J3WHBG0MTS7O8ZVMDC91</lei>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>REGENERON PHARMACEUTICALS INC</name>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>NEW YORK TIMES CO/THE</name>
                <lei>529900J1WEMMIW7BOH57</lei>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>GRAHAM HOLDINGS CO</name>
                <lei>529900BOSCEEEMAFQJ29</lei>
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                <cusip>384637104</cusip>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>ELI LILLY  AND  CO</name>
                <lei>FRDRIPF3EKNDJ2CQJL29</lei>
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                <cusip>532457108</cusip>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>JOHNSON  AND  JOHNSON</name>
                <lei>549300G0CFPGEF6X2043</lei>
                <title>COMMON STOCK</title>
                <cusip>478160104</cusip>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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                    <isLoanByFund>N</isLoanByFund>
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            <invstOrSec>
                <name>HIGHWOODS PROPERTIES INC</name>
                <lei>ZIIGTYKL9T0X3HLTDX53</lei>
                <title>COMMON STOCK</title>
                <cusip>431284108</cusip>
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                    <isin value="US4312841087"/>
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                <balance>214491</balance>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>DEERE  AND  CO</name>
                <lei>PWFTNG3EI0Y73OXWDH08</lei>
                <title>COMMON STOCK</title>
                <cusip>244199105</cusip>
                <identifiers>
                    <isin value="US2441991054"/>
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                <balance>39392</balance>
                <units>NS</units>
                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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                    <isLoanByFund>N</isLoanByFund>
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            <invstOrSec>
                <name>AMGEN INC</name>
                <lei>62QBXGPJ34PQ72Z12S66</lei>
                <title>COMMON STOCK</title>
                <cusip>031162100</cusip>
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                    <isin value="US0311621009"/>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
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                    <isLoanByFund>N</isLoanByFund>
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            <invstOrSec>
                <name>ELECTRONIC ARTS INC</name>
                <lei>549300O7A67PUEYKDL45</lei>
                <title>COMMON STOCK</title>
                <cusip>285512109</cusip>
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                    <isin value="US2855121099"/>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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            <invstOrSec>
                <name>AT AND T INC</name>
                <lei>549300Z40J86GGSTL398</lei>
                <title>COMMON STOCK</title>
                <cusip>00206R102</cusip>
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                    <isin value="US00206R1023"/>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                <name>TARGET CORP</name>
                <lei>8WDDFXB5T1Z6J0XC1L66</lei>
                <title>COMMON STOCK</title>
                <cusip>87612E106</cusip>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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            <invstOrSec>
                <name>CISCO SYSTEMS INC</name>
                <lei>549300LKFJ962MZ46593</lei>
                <title>COMMON STOCK</title>
                <cusip>17275R102</cusip>
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                    <isin value="US17275R1023"/>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                <name>VAIL RESORTS INC</name>
                <lei>529900PSZHRNU9HKH870</lei>
                <title>COMMON STOCK</title>
                <cusip>91879Q109</cusip>
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                    <isin value="US91879Q1094"/>
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                <curCd>USD</curCd>
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                <invCountry>US</invCountry>
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                <name>JPMORGAN CHASE  AND  CO</name>
                <lei>8I5DZWZKVSZI1NUHU748</lei>
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                <cusip>46625H100</cusip>
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            <invstOrSec>
                <name>UNION PACIFIC CORP</name>
                <lei>549300LMMRSZZCZ8CL11</lei>
                <title>COMMON STOCK</title>
                <cusip>907818108</cusip>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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            <invstOrSec>
                <name>INTEL CORP</name>
                <lei>KNX4USFCNGPY45LOCE31</lei>
                <title>COMMON STOCK</title>
                <cusip>458140100</cusip>
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                    <isin value="US4581401001"/>
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                <invCountry>US</invCountry>
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                <name>BANK OF NEW YORK MELLON CORP/THE</name>
                <lei>WFLLPEPC7FZXENRZV188</lei>
                <title>COMMON STOCK</title>
                <cusip>064058100</cusip>
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                <fairValLevel>1</fairValLevel>
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                <name>COSTAR GROUP INC</name>
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                <title>COMMON STOCK</title>
                <cusip>22160N109</cusip>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                <name>PFIZER INC</name>
                <lei>765LHXWGK1KXCLTFYQ30</lei>
                <title>COMMON STOCK</title>
                <cusip>717081103</cusip>
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                <curCd>USD</curCd>
                <valUSD>4000311.76</valUSD>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isLoanByFund>N</isLoanByFund>
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            <invstOrSec>
                <name>BEST BUY CO INC</name>
                <lei>HL5XPTVRV0O8TUN5LL90</lei>
                <title>COMMON STOCK</title>
                <cusip>086516101</cusip>
                <identifiers>
                    <isin value="US0865161014"/>
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                <balance>264499</balance>
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                <curCd>USD</curCd>
                <valUSD>19173532.51</valUSD>
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                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <loanByFundCondition isLoanByFund="Y" loanVal="2116708"/>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>MCKESSON CORP</name>
                <lei>549300WZWOM80UCFSF54</lei>
                <title>COMMON STOCK</title>
                <cusip>58155Q103</cusip>
                <identifiers>
                    <isin value="US58155Q1031"/>
                </identifiers>
                <balance>111651</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>55813218.39</valUSD>
                <pctVal>1.395667005086</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>NVIDIA CORP</name>
                <lei>549300S4KLFTLO7GSQ80</lei>
                <title>COMMON STOCK</title>
                <cusip>67066G104</cusip>
                <identifiers>
                    <isin value="US67066G1040"/>
                </identifiers>
                <balance>202390</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>124524495.3</valUSD>
                <pctVal>3.113863246530</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ELEVANCE HEALTH INC</name>
                <lei>8MYN82XMYQH89CTMTH67</lei>
                <title>COMMON STOCK</title>
                <cusip>036752103</cusip>
                <identifiers>
                    <isin value="US0367521038"/>
                </identifiers>
                <balance>46644</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>23016015.36</valUSD>
                <pctVal>0.575539167121</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>LKQ CORP</name>
                <lei>DS830JTTZQN6GK0I2E41</lei>
                <title>COMMON STOCK</title>
                <cusip>501889208</cusip>
                <identifiers>
                    <isin value="US5018892084"/>
                </identifiers>
                <balance>275732</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>12868412.44</valUSD>
                <pctVal>0.321787905597</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>NRG ENERGY INC</name>
                <lei>5E2UPK5SW04M13XY7I38</lei>
                <title>COMMON STOCK</title>
                <cusip>629377508</cusip>
                <identifiers>
                    <isin value="US6293775085"/>
                </identifiers>
                <balance>632530</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>33549391.2</valUSD>
                <pctVal>0.838937077797</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>SALESFORCE INC</name>
                <lei>RCGZFPDMRW58VJ54VR07</lei>
                <title>COMMON STOCK</title>
                <cusip>79466L302</cusip>
                <identifiers>
                    <isin value="US79466L3024"/>
                </identifiers>
                <balance>103384</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>29060208.56</valUSD>
                <pctVal>0.726680442699</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CBRE GROUP INC</name>
                <lei>52990016II9MJ2OSWA10</lei>
                <title>COMMON STOCK</title>
                <cusip>12504L109</cusip>
                <identifiers>
                    <isin value="US12504L1098"/>
                </identifiers>
                <balance>484629</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>41828328.99</valUSD>
                <pctVal>1.045960443300</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>AMERIPRISE FINANCIAL INC</name>
                <lei>6ZLKQF7QB6JAEKQS5388</lei>
                <title>COMMON STOCK</title>
                <cusip>03076C106</cusip>
                <identifiers>
                    <isin value="US03076C1062"/>
                </identifiers>
                <balance>128886</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>49856971.38</valUSD>
                <pctVal>1.246724914560</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>MASTERCARD INC</name>
                <lei>AR5L2ODV9HN37376R084</lei>
                <title>COMMON STOCK</title>
                <cusip>57636Q104</cusip>
                <identifiers>
                    <isin value="US57636Q1040"/>
                </identifiers>
                <balance>177932</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>79932392.36</valUSD>
                <pctVal>1.998791789337</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ASTRAZENECA PLC</name>
                <lei>PY6ZZQWO2IZFZC3IOL08</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>046353108</cusip>
                <identifiers>
                    <isin value="US0463531089"/>
                </identifiers>
                <balance>120832</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>8052244.48</valUSD>
                <pctVal>0.201354665826</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>GB</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CHICAGO MERCANTILE EXCHANGE</name>
                <lei>SNZ2OJLFK8MNNCLQOF39</lei>
                <title>EQUITY INDEX FUTURE</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <ticker value="RTYH4INDEX"/>
                </identifiers>
                <balance>1368</balance>
                <units>NC</units>
                <curCd>USD</curCd>
                <valUSD>133783560</valUSD>
                <pctVal>3.345395694801</pctVal>
                <payoffProfile>N/A</payoffProfile>
                <assetCat>DE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <derivativeInfo>
                    <futrDeriv derivCat="FUT">
                        <counterparties>
                            <counterpartyName>CHICAGO MERCANTILE EXCHANGE</counterpartyName>
                            <counterpartyLei>SNZ2OJLFK8MNNCLQOF39</counterpartyLei>
                        </counterparties>
                        <payOffProf>Long</payOffProf>
                        <descRefInstrmnt>
                            <indexBasketInfo>
<indexName>RUSSELL 2000 INDEX</indexName>
<indexIdentifier>RTY</indexIdentifier>
                            </indexBasketInfo>
                        </descRefInstrmnt>
                        <expDate>2024-03-15</expDate>
                        <notionalAmt>135580425.9</notionalAmt>
                        <curCd>USD</curCd>
                        <unrealizedAppr>-1796865.9</unrealizedAppr>
                    </futrDeriv>
                </derivativeInfo>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CHICAGO MERCANTILE EXCHANGE</name>
                <lei>SNZ2OJLFK8MNNCLQOF39</lei>
                <title>EQUITY INDEX FUTURE</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <ticker value="ESH4INDEX"/>
                </identifiers>
                <balance>299</balance>
                <units>NC</units>
                <curCd>USD</curCd>
                <valUSD>72813975</valUSD>
                <pctVal>1.820788432348</pctVal>
                <payoffProfile>N/A</payoffProfile>
                <assetCat>DE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <derivativeInfo>
                    <futrDeriv derivCat="FUT">
                        <counterparties>
                            <counterpartyName>CHICAGO MERCANTILE EXCHANGE</counterpartyName>
                            <counterpartyLei>SNZ2OJLFK8MNNCLQOF39</counterpartyLei>
                        </counterparties>
                        <payOffProf>Long</payOffProf>
                        <descRefInstrmnt>
                            <indexBasketInfo>
<indexName>S&amp;P 500 INDEX</indexName>
<indexIdentifier>SPX</indexIdentifier>
                            </indexBasketInfo>
                        </descRefInstrmnt>
                        <expDate>2024-03-15</expDate>
                        <notionalAmt>71385610.83</notionalAmt>
                        <curCd>USD</curCd>
                        <unrealizedAppr>1428364.17</unrealizedAppr>
                    </futrDeriv>
                </derivativeInfo>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ISHARES EXPANDED TECH-SOFTWARE SECTOR ETF</name>
                <lei>54930072GM1ADLZJ5373</lei>
                <title>EXCHANGE TRADED FUND</title>
                <cusip>464287515</cusip>
                <identifiers>
                    <isin value="US4642875151"/>
                </identifiers>
                <balance>141043</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>59291656.34</valUSD>
                <pctVal>1.482648928295</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>RF</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <loanByFundCondition isLoanByFund="Y" loanVal="25685218"/>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>LIBERTY GLOBAL LTD</name>
                <lei>213800HRMKKTYH7SKA24</lei>
                <title>ORDINARY SHARES</title>
                <cusip>G61188101</cusip>
                <identifiers>
                    <isin value="BMG611881019"/>
                </identifiers>
                <balance>823766</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>16228190.2</valUSD>
                <pctVal>0.405802608553</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>GB</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>UNIVERSAL MUSIC GROUP NV</name>
                <lei>724500GJBUL3D9TW9Y18</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <isin value="NL0015000IY2"/>
                </identifiers>
                <balance>537971</balance>
                <units>NS</units>
                <currencyConditional curCd="EUR" exchangeRt="1.080700207"/>
                <valUSD>15838492.13</valUSD>
                <pctVal>0.396057806982</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>NL</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ARCH CAPITAL GROUP LTD</name>
                <lei>549300AYR4P8AFKDCE43</lei>
                <title>ORDINARY SHARES</title>
                <cusip>G0450A105</cusip>
                <identifiers>
                    <isin value="BMG0450A1053"/>
                </identifiers>
                <balance>326093</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>26879845.99</valUSD>
                <pctVal>0.672158231190</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>BM</invCountry>

                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>NYXOAH SA</name>
                <lei>5493002O1ESKZ18OXR80</lei>
                <title>ORDINARY SHARES</title>
                <cusip>B6S7WD106</cusip>
                <identifiers>
                    <isin value="BE0974358906"/>
                </identifiers>
                <balance>183630</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>1986876.6</valUSD>
                <pctVal>0.049683895568</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>BE</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ASSURED GUARANTY LTD</name>
                <lei>549300BBOQUJEPH87M14</lei>
                <title>ORDINARY SHARES</title>
                <cusip>G0585R106</cusip>
                <identifiers>
                    <isin value="BMG0585R1060"/>
                </identifiers>
                <balance>215871</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>17513614.23</valUSD>
                <pctVal>0.437945960217</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>BM</invCountry>

                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>BANK OF AMERICA N.A.</name>
                <lei>B4TYDEB6GKMZO031MB27</lei>
                <title>OTC EQUITY OPTION</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2698565"/>
                </identifiers>
                <balance>72125</balance>
                <units>NC</units>
                <curCd>USD</curCd>
                <valUSD>34447.48</valUSD>
                <pctVal>0.000861394713</pctVal>
                <payoffProfile>N/A</payoffProfile>
                <assetCat>DE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <optionSwaptionWarrantDeriv derivCat="OPT">
                        <counterparties>
                            <counterpartyName>BANK OF AMERICA N.A.</counterpartyName>
                            <counterpartyLei>B4TYDEB6GKMZO031MB27</counterpartyLei>
                        </counterparties>
                        <putOrCall>Put</putOrCall>
                        <writtenOrPur>Purchased</writtenOrPur>
                        <descRefInstrmnt>
                            <otherRefInst>
<issuerName>GODADDY INC</issuerName>
<issueTitle>COMMON STOCK</issueTitle>
<identifiers>
    <cusip value="380237107"/>
</identifiers>
                            </otherRefInst>
                        </descRefInstrmnt>
                        <shareNo>1</shareNo>
                        <exercisePrice>87.5</exercisePrice>
                        <exercisePriceCurCd>USD</exercisePriceCurCd>
                        <expDt>2024-03-15</expDt>
                        <delta>XXXX</delta>
                        <unrealizedAppr>-117015.02</unrealizedAppr>
                    </optionSwaptionWarrantDeriv>
                </derivativeInfo>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>JP MORGANCHASE BANK</name>
                <lei>7H6GLXDRUGQFU57RNE97</lei>
                <title>OTC EQUITY OPTION</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2704923"/>
                </identifiers>
                <balance>17020</balance>
                <units>NC</units>
                <curCd>USD</curCd>
                <valUSD>41517.4</valUSD>
                <pctVal>0.001038185344</pctVal>
                <payoffProfile>N/A</payoffProfile>
                <assetCat>DE</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <derivativeInfo>
                    <optionSwaptionWarrantDeriv derivCat="OPT">
                        <counterparties>
                            <counterpartyName>JP MORGANCHASE BANK</counterpartyName>
                            <counterpartyLei>7H6GLXDRUGQFU57RNE97</counterpartyLei>
                        </counterparties>
                        <putOrCall>Put</putOrCall>
                        <writtenOrPur>Purchased</writtenOrPur>
                        <descRefInstrmnt>
                            <otherRefInst>
<issuerName>LAM RESEARCH CORP</issuerName>
<issueTitle>COMMON STOCK</issueTitle>
<identifiers>
    <cusip value="512807108"/>
</identifiers>
                            </otherRefInst>
                        </descRefInstrmnt>
                        <shareNo>1</shareNo>
                        <exercisePrice>805</exercisePrice>
                        <exercisePriceCurCd>USD</exercisePriceCurCd>
                        <expDt>2024-02-02</expDt>
                        <delta>XXXX</delta>
                        <unrealizedAppr>-246120.6</unrealizedAppr>
                    </optionSwaptionWarrantDeriv>
                </derivativeInfo>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>BofA Securities, Inc.</name>
                <lei>549300HN4UKV1E2R3U73</lei>
                <title>REPURCHASE AGREEMENT</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="2705709"/>
                </identifiers>
                <balance>60406000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>60406000</valUSD>
                <pctVal>1.510514239120</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>RA</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <repurchaseAgrmt>
                    <transCat>Repurchase</transCat>
                    <notClearedCentCparty isCleared="N">
                        <counterpartyInfos>
                            <counterpartyInfo lei="549300HN4UKV1E2R3U73" name="BofA Securities, Inc."/>
                        </counterpartyInfos>
                    </notClearedCentCparty>
                    <isTriParty>Y</isTriParty>
                    <repurchaseRt>5.32</repurchaseRt>
                    <maturityDt>2024-02-01</maturityDt>
                    <repurchaseCollaterals>
                        <repurchaseCollateral>
                            <principalAmt>86070659.74</principalAmt>
                            <principalCd>USD</principalCd>
                            <collateralVal>61614120.03</collateralVal>
                            <collateralCd>USD</collateralCd>
                            <invstCat>AMBS</invstCat>
                        </repurchaseCollateral>
                    </repurchaseCollaterals>
                </repurchaseAgrmt>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>PUTNAM GOVERNMENT MONEY MARKET FUND</name>
                <lei>549300SEUI2XMME8T893</lei>
                <title>SHORT TERM INV FUND</title>
                <cusip>74680A802</cusip>
                <identifiers>
                    <isin value="US74680A8027"/>
                </identifiers>
                <balance>21000000</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>21000000</valUSD>
                <pctVal>0.525126626850</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>STIV</assetCat>
                <issuerCat>PF</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>PUTNAM CASH COLLATERAL POOL LLC</name>
                <lei>5493005HRIV7IFMKD774</lei>
                <title>SHORT TERM INV FUND</title>
                <cusip>N/A</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="1181681"/>
                </identifiers>
                <balance>42218770</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>42218770</valUSD>
                <pctVal>1.055723822851</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>STIV</assetCat>
                <issuerCat>PF</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <cashCollateralCondition cashCollateralVal="42218770" isCashCollateral="Y"/>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>PUTNAM SHORT TERM INVESTMENT FUND</name>
                <lei>5493003MK0Q7JP8CPP42</lei>
                <title>SHORT TERM INV FUND</title>
                <cusip>74676P664</cusip>
                <identifiers>
                    <isin value="US74676P6640"/>
                </identifiers>
                <balance>160164827</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>160164827</valUSD>
                <pctVal>4.005086444884</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>STIV</assetCat>
                <issuerCat>PF</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>UNITED STATES OF AMERICA</name>
                <lei>254900HROIFWPRGM1V77</lei>
                <title>U.S. T BILLS</title>
                <cusip>912796Z28</cusip>
                <identifiers>
                    <isin value="US912796Z285"/>
                </identifiers>
                <balance>7600000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>7576675.16</valUSD>
                <pctVal>0.189462565215</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>UST</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2024-02-22</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>0</annualizedRt>
                    <isDefault>N</isDefault>
                    <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
                    <isPaidKind>N</isPaidKind>
                </debtSec>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>UNITED STATES OF AMERICA</name>
                <lei>254900HROIFWPRGM1V77</lei>
                <title>U.S. T BILLS</title>
                <cusip>912797LL9</cusip>
                <identifiers>
                    <isin value="US912797LL96"/>
                </identifiers>
                <balance>8800000</balance>
                <units>PA</units>
                <curCd>USD</curCd>
                <valUSD>8736907.1</valUSD>
                <pctVal>0.218475359739</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>DBT</assetCat>
                <issuerCat>UST</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>2</fairValLevel>
                <debtSec>
                    <maturityDt>2024-03-21</maturityDt>
                    <couponKind>Fixed</couponKind>
                    <annualizedRt>0</annualizedRt>
                    <isDefault>N</isDefault>
                    <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
                    <isPaidKind>N</isPaidKind>
                </debtSec>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
        </invstOrSecs>
        <explntrNotes>
            <explntrNote note="Monthly total returns provided exclude any applicable sales loads or redemption fees. " noteItem="B.5.a"/>
            <explntrNote note="For certain swaptions, if any, the value provided may include any unpaid or received premium and as a result may be a negative value." noteItem="C.2.c"/>
            <explntrNote note="For total return swaps, interest rate swaps or spread swaps, if any, the mark to market payment may be either received or paid, depending on the change in value of the underlying index, basket or equity. For credit default swaps, if any, floating rate index related payments are only made upon the occurrence of a credit event on the reference obligation." noteItem="C.11.f.i.1"/>
            <explntrNote note="For total return swaps, interest rate swaps or spread swaps, if any, the mark to market payment may be either paid or received, depending on the change in value of the underlying index, basket or equity. For credit default swaps, if any, floating rate index related payments are only made upon the occurrence of a credit event on the reference obligation." noteItem="C.11.f.i.2"/>
        </explntrNotes>
        <signature>
            <ncom:dateSigned>2024-03-27</ncom:dateSigned>
            <ncom:nameOfApplicant>Putnam Funds Trust</ncom:nameOfApplicant>
            <ncom:signature>Janet C. Smith</ncom:signature>
            <ncom:signerName>Janet C. Smith</ncom:signerName>
            <ncom:title>Principal Financial Officer</ncom:title>
        </signature>
    </formData>
    <documents>XXXX</documents>
</edgarSubmission>
