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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>
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        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Gates Industrial Corp PLC</name>
        <lei>549300S6K4FWUSB9KM27</lei>
        <title>GATES INDUSTRIAL CORP PLC </title>
        <cusip>G39108108</cusip>
        <identifiers>
          <isin value="GB00BD9G2S12"/>
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        <balance>305278.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4240311.42000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Rayonier Inc</name>
        <lei>HGV8VDVNL0W6SF2U9C50</lei>
        <title>Rayonier, Inc. REIT</title>
        <cusip>754907103</cusip>
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          <isin value="US7549071030"/>
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        <balance>127694.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4247102.44000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Webster Financial Corp.</name>
        <lei>KMRURHT0VWKYS6Z5KU67</lei>
        <title>Webster Financial Corporation </title>
        <cusip>947890109</cusip>
        <identifiers>
          <isin value="US9478901096"/>
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        <balance>145433.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5732968.86000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ESAB Corp.</name>
        <lei>549300ZNV0SWBXEIWT04</lei>
        <title>ESAB Corporation </title>
        <cusip>29605J106</cusip>
        <identifiers>
          <isin value="US29605J1060"/>
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        <balance>145958.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8621739.06000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>State Street Navigator Securities Lending Portfolio I</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Internal" value="SS SECLEN"/>
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        <balance>6689845.75</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6689845.75</valUSD>
        <pctVal>2.282803751339</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="6689845.75" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Silvercrest Asset Mgmt Group Inc</name>
        <lei>54930025FW84N3HROX04</lei>
        <title>Silvercrest Asset Management Group, Inc. </title>
        <cusip>828359109</cusip>
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          <isin value="US8283591092"/>
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        <balance>20645.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>375326.10000000</valUSD>
        <pctVal>0.128074078397</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Allegiant Travel Company</name>
        <lei>549300JM9OZXOHWL2K18</lei>
        <title>Allegiant Travel Company </title>
        <cusip>01748X102</cusip>
        <identifiers>
          <isin value="US01748X1028"/>
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        <balance>94520.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8693949.60000000</valUSD>
        <pctVal>2.966672402100</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ryman Hospitality Properties Inc</name>
        <lei>529900GCCWW9SRMPJR11</lei>
        <title>Ryman Hospitality Properties, Inc. REIT</title>
        <cusip>78377T107</cusip>
        <identifiers>
          <isin value="US78377T1079"/>
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        <balance>77016.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6910645.68000000</valUSD>
        <pctVal>2.358148225238</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Kirby Corp</name>
        <lei>I7NO6FZO5GUCG585T325</lei>
        <title>Kirby Corporation </title>
        <cusip>497266106</cusip>
        <identifiers>
          <isin value="US4972661064"/>
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        <balance>42085.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2933324.50000000</valUSD>
        <pctVal>1.000950458759</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>Concrete Pumping Holdings Inc.</name>
        <lei>N/A</lei>
        <title>Concrete Pumping Holdings, Inc. </title>
        <cusip>206704108</cusip>
        <identifiers>
          <isin value="US2067041085"/>
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        <balance>770000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5236000.00000000</valUSD>
        <pctVal>1.786701949295</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="48803.60000000"/>
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      <invstOrSec>
        <name>United States Lime &amp; Minerals Inc.</name>
        <lei>549300VGDEEG8RT7VC89</lei>
        <title>United States Lime &amp; Minerals, Inc. </title>
        <cusip>911922102</cusip>
        <identifiers>
          <isin value="US9119221029"/>
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        <balance>23379.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3569739.51000000</valUSD>
        <pctVal>1.218116986439</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="30538.00000000"/>
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      <invstOrSec>
        <name>Graham Corp</name>
        <lei>254900EI9P4LTY524J77</lei>
        <title>Graham Corporation </title>
        <cusip>384556106</cusip>
        <identifiers>
          <isin value="US3845561063"/>
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        <balance>133500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1746180.00000000</valUSD>
        <pctVal>0.595856228002</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PROG Holdings Inc.</name>
        <lei>549300DHYTLBOVRXIG52</lei>
        <title>Prog Holdings, Inc. </title>
        <cusip>74319R101</cusip>
        <identifiers>
          <isin value="US74319R1014"/>
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        <balance>70807.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1684498.53000000</valUSD>
        <pctVal>0.574808404724</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Seaboard Corp Del</name>
        <lei>87Q3KOXT29OW9W9YPT70</lei>
        <title>Seaboard Corporation </title>
        <cusip>811543107</cusip>
        <identifiers>
          <isin value="US8115431079"/>
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        <balance>1343.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5063123.43000000</valUSD>
        <pctVal>1.727710561861</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ashland Inc.</name>
        <lei>529900E4L9R04SB8HB11</lei>
        <title>Ashland, Inc. </title>
        <cusip>044186104</cusip>
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          <isin value="US0441861046"/>
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        <balance>75770.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7782336.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Vail Resorts, Inc.</name>
        <lei>529900PSZHRNU9HKH870</lei>
        <title>Vail Resorts, Inc. </title>
        <cusip>91879Q109</cusip>
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          <isin value="US91879Q1094"/>
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        <balance>7736.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1807748.48000000</valUSD>
        <pctVal>0.616865495235</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Lancaster Colony Corp.</name>
        <lei>529900X4O13HED1ZAS58</lei>
        <title>Lancaster Colony Corporation </title>
        <cusip>513847103</cusip>
        <identifiers>
          <isin value="US5138471033"/>
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        <balance>36783.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7462535.04000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Chase Corp(Mass)</name>
        <lei>N/A</lei>
        <title>CHASE CORPORATION </title>
        <cusip>16150R104</cusip>
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          <isin value="US16150R1041"/>
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        <balance>77035.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8067875.55000000</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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      <invstOrSec>
        <name>Wolverine World Wide, Inc.</name>
        <lei>549300OVC7PK14LQ8D87</lei>
        <title>Wolverine World Wide, Inc. </title>
        <cusip>978097103</cusip>
        <identifiers>
          <isin value="US9780971035"/>
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        <balance>203591.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3471226.55000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Post Holdings Inc.</name>
        <lei>JM1I5YUAURL6DC8N1468</lei>
        <title>Post Holdings, Inc. </title>
        <cusip>737446104</cusip>
        <identifiers>
          <isin value="US7374461041"/>
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        <balance>58949.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5297746.63000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FTAI Aviation Ltd</name>
        <lei>N/A</lei>
        <title>FTAI Aviation Ltd. </title>
        <cusip>G3730V105</cusip>
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          <isin value="KYG3730V1059"/>
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        <balance>148056.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4139645.76000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Civitas Resources Inc</name>
        <lei>IIVIHPH28S64K95M2381</lei>
        <title>Civitas Resources, Inc. </title>
        <cusip>17888H103</cusip>
        <identifiers>
          <isin value="US17888H1032"/>
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        <balance>147073.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10050968.82000000</valUSD>
        <pctVal>3.429733686593</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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          <loanByFundCondition isLoanByFund="Y" loanVal="10003609.20000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Rimini Street Inc.</name>
        <lei>54930042ITIRGVM4HY55</lei>
        <title>Rimini Street, Inc. </title>
        <cusip>76674Q107</cusip>
        <identifiers>
          <isin value="US76674Q1076"/>
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        <balance>1609632.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6631683.84000000</valUSD>
        <pctVal>2.262956922085</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="627480.12000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Jones Lang LaSalle Incorporated</name>
        <lei>6SYKCME112RT8TQUO411</lei>
        <title>Jones Lang LaSalle, Inc. </title>
        <cusip>48020Q107</cusip>
        <identifiers>
          <isin value="US48020Q1076"/>
        </identifiers>
        <balance>7605.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1106451.45000000</valUSD>
        <pctVal>0.377559007355</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>UGI Corp</name>
        <lei>DX6GCWD4Q1JO9CRE5I40</lei>
        <title>UGI CORP. </title>
        <cusip>902681105</cusip>
        <identifiers>
          <isin value="US9026811052"/>
        </identifiers>
        <balance>59537.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2069506.12000000</valUSD>
        <pctVal>0.706186138022</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>First Interstate Bancsystem Inc.</name>
        <lei>549300WRWYTYX0RCNJ43</lei>
        <title>First Interstate BancSystem, Inc. </title>
        <cusip>32055Y201</cusip>
        <identifiers>
          <isin value="US32055Y2019"/>
        </identifiers>
        <balance>180554.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5391342.44000000</valUSD>
        <pctVal>1.839710092984</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>Red Rock Resorts Inc</name>
        <lei>N/A</lei>
        <title>Red Rock Resorts, Inc. Class A</title>
        <cusip>75700L108</cusip>
        <identifiers>
          <isin value="US75700L1089"/>
        </identifiers>
        <balance>391069.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17429945.33000000</valUSD>
        <pctVal>5.947692379149</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>Enovis Corporation</name>
        <lei>635400OP2DYYYMOIYL17</lei>
        <title>Enovis Corporation </title>
        <cusip>194014502</cusip>
        <identifiers>
          <isin value="US1940145022"/>
        </identifiers>
        <balance>167865.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8979098.85000000</valUSD>
        <pctVal>3.063975060774</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>UFP Technologies Inc.</name>
        <lei>549300RJ8LY41HS70C91</lei>
        <title>UFP Technologies, Inc. </title>
        <cusip>902673102</cusip>
        <identifiers>
          <isin value="US9026731029"/>
        </identifiers>
        <balance>42679.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5541441.36000000</valUSD>
        <pctVal>1.890928968643</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>Allied Motion Technologies Inc.</name>
        <lei>549300I2LHAWYGNBPM97</lei>
        <title>Allied Motion Technologies, Inc. </title>
        <cusip>019330109</cusip>
        <identifiers>
          <isin value="US0193301092"/>
        </identifiers>
        <balance>150705.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5824748.25000000</valUSD>
        <pctVal>1.987602951190</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>BOK Financial Corp</name>
        <lei>GRI2NT5QHYW751NMR949</lei>
        <title>BOK Financial Corporation </title>
        <cusip>05561Q201</cusip>
        <identifiers>
          <isin value="US05561Q2012"/>
        </identifiers>
        <balance>63190.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5333867.90000000</valUSD>
        <pctVal>1.820097817841</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>Live Oak Bancshares Inc</name>
        <lei>N/A</lei>
        <title>Live Oak Bancshares, Inc. </title>
        <cusip>53803X105</cusip>
        <identifiers>
          <isin value="US53803X1054"/>
        </identifiers>
        <balance>351446.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8564739.02000000</valUSD>
        <pctVal>2.922581341146</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>CubeSmart L.P.</name>
        <lei>N/A</lei>
        <title>CubeSmart REIT</title>
        <cusip>229663109</cusip>
        <identifiers>
          <isin value="US2296631094"/>
        </identifiers>
        <balance>38630.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1785478.60000000</valUSD>
        <pctVal>0.609266251918</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>Douglas Emmett Inc</name>
        <lei>N/A</lei>
        <title>Douglas Emmett, Inc. REIT</title>
        <cusip>25960P109</cusip>
        <identifiers>
          <isin value="US25960P1093"/>
        </identifiers>
        <balance>200233.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2468872.89000000</valUSD>
        <pctVal>0.842463713736</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="1267450.02000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Centrus Energy Corp.</name>
        <lei>549300G6VDK9G8276661</lei>
        <title>Centrus Energy Corporation </title>
        <cusip>15643U104</cusip>
        <identifiers>
          <isin value="US15643U1043"/>
        </identifiers>
        <balance>50131.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1614218.20000000</valUSD>
        <pctVal>0.550826356861</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="633116.40000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mr Cooper Group Inc</name>
        <lei>549300KD8C6DPXYC2M26</lei>
        <title>MR Cooper Group, Inc. </title>
        <cusip>62482R107</cusip>
        <identifiers>
          <isin value="US62482R1077"/>
        </identifiers>
        <balance>201069.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8237796.93000000</valUSD>
        <pctVal>2.811017538719</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>Wesco International, Inc.</name>
        <lei>529900TXOGREY3WNJ434</lei>
        <title>WESCO International, Inc. </title>
        <cusip>95082P105</cusip>
        <identifiers>
          <isin value="US95082P1057"/>
        </identifiers>
        <balance>81103.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12533657.62000000</valUSD>
        <pctVal>4.276911860477</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>Triumph Financial Inc</name>
        <lei>5493003RNRMEVYDZ1Q52</lei>
        <title>Triumph Financial, Inc. </title>
        <cusip>89679E300</cusip>
        <identifiers>
          <isin value="US89679E3009"/>
        </identifiers>
        <balance>126882.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7366768.92000000</valUSD>
        <pctVal>2.513793046099</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="5501939.78000000"/>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2023-05-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Diamond Hill Funds</ncom:nameOfApplicant>
      <ncom:signature>Julie Roach</ncom:signature>
      <ncom:signerName>Julie Roach</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
