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        <name>OneSpaWorld Holdings Ltd.</name>
        <lei>5493007W8PZ8W6UC2X76</lei>
        <title>OneSpaWorld Holdings Ltd.</title>
        <cusip>P73684113</cusip>
        <identifiers>
          <isin value="BSP736841136"/>
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        <balance>41417.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>506115.74000000</valUSD>
        <pctVal>0.498654393950</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BS</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FS Bancorp Inc.</name>
        <lei>N/A</lei>
        <title>FS Bancorp Inc.</title>
        <cusip>30263Y104</cusip>
        <identifiers>
          <isin value="US30263Y1047"/>
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        <balance>519.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24803.01000000</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>
      <invstOrSec>
        <name>SFL Corp. Ltd.</name>
        <lei>549300RLYYPSB0C7RH77</lei>
        <title>SFL Corp. Ltd.</title>
        <cusip>G7738W106</cusip>
        <identifiers>
          <isin value="BMG7738W1064"/>
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        <balance>33802.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>410356.28000000</valUSD>
        <pctVal>0.404306655444</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Graham Holdings Co.</name>
        <lei>529900BOSCEEEMAFQJ29</lei>
        <title>Graham Holdings Co.</title>
        <cusip>384637104</cusip>
        <identifiers>
          <isin value="US3846371041"/>
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        <balance>1233.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>620051.04000000</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Casella Waste Systems Inc.</name>
        <lei>8EU0XUFVJ48U37IIDH51</lei>
        <title>Casella Waste Systems Inc.</title>
        <cusip>147448104</cusip>
        <identifiers>
          <isin value="US1474481041"/>
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        <balance>1064.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>51550.80000000</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>
      <invstOrSec>
        <name>HomeTrust Bancshares Inc.</name>
        <lei>N/A</lei>
        <title>HomeTrust Bancshares Inc.</title>
        <cusip>437872104</cusip>
        <identifiers>
          <isin value="US4378721041"/>
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        <balance>3990.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>94802.40000000</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>Fiserv Inc.</name>
        <lei>GI7UBEJLXYLGR2C7GV83</lei>
        <title>Fiserv Inc.</title>
        <cusip>337738108</cusip>
        <identifiers>
          <isin value="US3377381088"/>
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        <balance>2588.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>283023.68000000</valUSD>
        <pctVal>0.278851239884</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>Service Corp. International</name>
        <lei>549300RKVM2ME20JHZ15</lei>
        <title>Service Corp. International/US</title>
        <cusip>817565104</cusip>
        <identifiers>
          <isin value="US8175651046"/>
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        <balance>9090.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>434411.10000000</valUSD>
        <pctVal>0.428006850361</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>Genpact Ltd.</name>
        <lei>529900OSEC6Q0L4L5B35</lei>
        <title>Genpact Ltd.</title>
        <cusip>G3922B107</cusip>
        <identifiers>
          <isin value="BMG3922B1072"/>
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        <balance>9501.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>365408.46000000</valUSD>
        <pctVal>0.360021472886</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>
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      <invstOrSec>
        <name>Universal Corp.</name>
        <lei>549300BZXZ66F6DTIF20</lei>
        <title>Universal Corp./VA</title>
        <cusip>913456109</cusip>
        <identifiers>
          <isin value="US9134561094"/>
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        <balance>8439.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>416464.65000000</valUSD>
        <pctVal>0.410324973587</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>Dynex Capital Inc.</name>
        <lei>5CIJ4S9HAEBWILA19B65</lei>
        <title>Dynex Capital Inc.</title>
        <cusip>26817Q886</cusip>
        <identifiers>
          <isin value="US26817Q8868"/>
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        <balance>1811.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>30968.10000000</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>Hershey Co.</name>
        <lei>21X2CX66SU2BR6QTAD08</lei>
        <title>Hershey Co.</title>
        <cusip>427866108</cusip>
        <identifiers>
          <isin value="US4278661081"/>
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        <balance>9423.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1356817.77000000</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>National Presto Industries Inc.</name>
        <lei>N/A</lei>
        <title>National Presto Industries Inc.</title>
        <cusip>637215104</cusip>
        <identifiers>
          <isin value="US6372151042"/>
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        <balance>2052.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>161246.16000000</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>Ameren Corp.</name>
        <lei>XRZQ5S7HYJFPHJ78L959</lei>
        <title>Ameren Corp.</title>
        <cusip>023608102</cusip>
        <identifiers>
          <isin value="US0236081024"/>
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        <balance>1633.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>129007.00000000</valUSD>
        <pctVal>0.127105130933</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>Zoetis Inc.</name>
        <lei>549300HD9Q1LOC9KLJ48</lei>
        <title>Zoetis Inc.</title>
        <cusip>98978V103</cusip>
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          <isin value="US98978V1035"/>
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        <balance>2483.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>330810.09000000</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>PCSB Financial Corp.</name>
        <lei>N/A</lei>
        <title>PCSB Financial Corp.</title>
        <cusip>69324R104</cusip>
        <identifiers>
          <isin value="US69324R1041"/>
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        <balance>3787.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>69529.32000000</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>National Research Corp.</name>
        <lei>549300FQIORB6GZCYT15</lei>
        <title>National Research Corp.</title>
        <cusip>637372202</cusip>
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          <isin value="US6373722023"/>
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        <balance>7244.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>398347.56000000</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>Bank of Princeton</name>
        <lei>549300EMC7T53UNNNA58</lei>
        <title>Bank of Princeton</title>
        <cusip>064520109</cusip>
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          <isin value="US0645201098"/>
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        <balance>1003.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>27341.78000000</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>
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      <invstOrSec>
        <name>Church &amp; Dwight Co. Inc.</name>
        <lei>POOXSI30AWAQGYJZC921</lei>
        <title>Church &amp; Dwight Co. Inc.</title>
        <cusip>171340102</cusip>
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          <isin value="US1713401024"/>
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        <balance>5606.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>389729.12000000</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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      <invstOrSec>
        <name>Eli Lilly &amp; Co.</name>
        <lei>FRDRIPF3EKNDJ2CQJL29</lei>
        <title>Eli Lilly &amp; Co.</title>
        <cusip>532457108</cusip>
        <identifiers>
          <isin value="US5324571083"/>
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        <balance>11162.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1407863.06000000</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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        <name>Jack Henry &amp; Associates Inc.</name>
        <lei>529900X1QS8C54W0JB21</lei>
        <title>Jack Henry &amp; Associates Inc.</title>
        <cusip>426281101</cusip>
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          <isin value="US4262811015"/>
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        <balance>8800.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1335312.00000000</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>Rent-A-Center Inc.</name>
        <lei>529900QUHE15UQNCCJ63</lei>
        <title>Rent-A-Center Inc./TX</title>
        <cusip>76009N100</cusip>
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        <balance>9753.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>207641.37000000</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>Royal Gold Inc.</name>
        <lei>5493001NGRU6SFL04184</lei>
        <title>Royal Gold Inc.</title>
        <cusip>780287108</cusip>
        <identifiers>
          <isin value="US7802871084"/>
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        <balance>9549.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>921192.03000000</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>Level One Bancorp Inc.</name>
        <lei>549300581TFYYPV3X561</lei>
        <title>Level One Bancorp Inc.</title>
        <cusip>52730D208</cusip>
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          <isin value="US52730D2080"/>
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        <balance>2764.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>67027.00000000</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>F5 Networks Inc.</name>
        <lei>N/A</lei>
        <title>F5 Networks Inc.</title>
        <cusip>315616102</cusip>
        <identifiers>
          <isin value="US3156161024"/>
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        <balance>1411.00000000</balance>
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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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      <invstOrSec>
        <name>AMERCO</name>
        <lei>5493003WIDMLDHYC6Y24</lei>
        <title>Amerco</title>
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          <isin value="US0235861004"/>
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        <balance>579.00000000</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>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CDK Global Inc.</name>
        <lei>5493000L10CYRTHIJ385</lei>
        <title>CDK Global Inc.</title>
        <cusip>12508E101</cusip>
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          <isin value="US12508E1010"/>
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        <balance>946.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>43534.92000000</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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      <invstOrSec>
        <name>Motorola Solutions Inc.</name>
        <lei>6S552MUG6KGJVEBSEC55</lei>
        <title>Motorola Solutions Inc.</title>
        <cusip>620076307</cusip>
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          <isin value="US6200763075"/>
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        <balance>9522.00000000</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>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Verizon Communications Inc.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>Verizon Communications Inc.</title>
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          <isin value="US92343V1044"/>
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        <balance>27649.00000000</balance>
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        <curCd>USD</curCd>
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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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      <invstOrSec>
        <name>US Physical Therapy Inc.</name>
        <lei>N/A</lei>
        <title>US Physical Therapy Inc.</title>
        <cusip>90337L108</cusip>
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          <isin value="US90337L1089"/>
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        <balance>882.00000000</balance>
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        <curCd>USD</curCd>
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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>Consolidated Edison Inc.</name>
        <lei>54930033SBW53OO8T749</lei>
        <title>Consolidated Edison Inc.</title>
        <cusip>209115104</cusip>
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          <isin value="US2091151041"/>
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        <balance>749.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>59036.18000000</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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      <invstOrSec>
        <name>AG Mortgage Investment Trust Inc.</name>
        <lei>549300SNP0PBR2XTFR48</lei>
        <title>AG Mortgage Investment Trust Inc.</title>
        <cusip>001228105</cusip>
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          <isin value="US0012281053"/>
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        <balance>13455.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>201421.35000000</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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      <invstOrSec>
        <name>Universal Health Services Inc.</name>
        <lei>549300YGMGQDO0NMJD09</lei>
        <title>Universal Health Services Inc.</title>
        <cusip>913903100</cusip>
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          <isin value="US9139031002"/>
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        <balance>829.00000000</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ellington Financial Inc.</name>
        <lei>60GS1D1R1YY5G1W7IT74</lei>
        <title>Ellington Financial Inc.</title>
        <cusip>28852N109</cusip>
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          <isin value="US28852N1090"/>
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        <balance>17338.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>286597.14000000</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>Mid-America Apartment Communities Inc.</name>
        <lei>549300FQZKFR5YNSHZ21</lei>
        <title>Mid-America Apartment Communities Inc.</title>
        <cusip>59522J103</cusip>
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          <isin value="US59522J1034"/>
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        <balance>3563.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>460553.38000000</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>SVMK Inc.</name>
        <lei>N/A</lei>
        <title>SVMK Inc.</title>
        <cusip>78489X103</cusip>
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          <isin value="US78489X1037"/>
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        <balance>6887.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>125550.01000000</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>Gibraltar Industries Inc.</name>
        <lei>N/A</lei>
        <title>Gibraltar Industries Inc.</title>
        <cusip>374689107</cusip>
        <identifiers>
          <isin value="US3746891072"/>
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        <balance>1572.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>79653.24000000</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>Microsoft Corp.</name>
        <lei>INR2EJN1ERAN0W5ZP974</lei>
        <title>Microsoft Corp.</title>
        <cusip>594918104</cusip>
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          <isin value="US5949181045"/>
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        <balance>1458.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>236210.58000000</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>Eversource Energy</name>
        <lei>SJ7XXD41SQU3ZNWUJ746</lei>
        <title>Eversource Energy</title>
        <cusip>30040W108</cusip>
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          <isin value="US30040W1080"/>
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        <balance>3530.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>305203.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <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>
        <name>ONEOK Inc.</name>
        <lei>2T3D6M0JSY48PSZI1Q41</lei>
        <title>ONEOK Inc.</title>
        <cusip>682680103</cusip>
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        <balance>4957.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Seaboard Corp.</name>
        <lei>87Q3KOXT29OW9W9YPT70</lei>
        <title>Seaboard Corp.</title>
        <cusip>811543107</cusip>
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          <isin value="US8115431079"/>
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        <balance>49.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>167335.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Haverty Furniture Cos. Inc.</name>
        <lei>529900CVFMMIRXZVPD70</lei>
        <title>Haverty Furniture Cos. Inc.</title>
        <cusip>419596101</cusip>
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          <isin value="US4195961010"/>
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        <balance>5441.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Honeywell International Inc.</name>
        <lei>ISRPG12PN4EIEOEMW547</lei>
        <title>Honeywell International Inc.</title>
        <cusip>438516106</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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Yum! Brands Inc.</name>
        <lei>549300JE8XHZZ7OHN517</lei>
        <title>Yum! Brands Inc.</title>
        <cusip>988498101</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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Cracker Barrel Old Country Store Inc.</name>
        <lei>8P4PHQIUWPIECBFBW745</lei>
        <title>Cracker Barrel Old Country Store Inc.</title>
        <cusip>22410J106</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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Philip Morris International Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>Philip Morris International Inc.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Atrion Corp.</name>
        <lei>N/A</lei>
        <title>Atrion Corp.</title>
        <cusip>049904105</cusip>
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          <isin value="US0499041053"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>J&amp;J Snack Foods Corp.</name>
        <lei>N/A</lei>
        <title>J&amp;J Snack Foods Corp.</title>
        <cusip>466032109</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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fidelity National Information Services Inc.</name>
        <lei>6WQI0GK1PRFVBA061U48</lei>
        <title>Fidelity National Information Services Inc.</title>
        <cusip>31620M106</cusip>
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        <balance>1418.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>198122.96000000</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MicroStrategy Inc.</name>
        <lei>549300WQTWEJUEHXQX21</lei>
        <title>MicroStrategy Inc.</title>
        <cusip>594972408</cusip>
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          <isin value="US5949724083"/>
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        <balance>4534.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>612815.44000000</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>
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      </invstOrSec>
      <invstOrSec>
        <name>UDR Inc.</name>
        <lei>P3CH2EG5X6Z1XWU1OO74</lei>
        <title>UDR Inc.</title>
        <cusip>902653104</cusip>
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          <isin value="US9026531049"/>
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        <balance>2660.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>119646.80000000</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>Winmark Corp.</name>
        <lei>N/A</lei>
        <title>Winmark Corp.</title>
        <cusip>974250102</cusip>
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          <isin value="US9742501029"/>
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        <balance>1074.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>214800.00000000</valUSD>
        <pctVal>0.211633338691</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>ALLETE Inc.</name>
        <lei>549300NNLSIMY6Z8OT86</lei>
        <title>ALLETE Inc.</title>
        <cusip>018522300</cusip>
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          <isin value="US0185223007"/>
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        <balance>1949.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>134461.51000000</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>Model N Inc.</name>
        <lei>549300WCIL3W0EYSBN94</lei>
        <title>Model N Inc.</title>
        <cusip>607525102</cusip>
        <identifiers>
          <isin value="US6075251024"/>
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        <balance>23728.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>688112.00000000</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>Medtronic plc</name>
        <lei>549300GX3ZBSQWUXY261</lei>
        <title>Medtronic plc</title>
        <cusip>G5960L103</cusip>
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          <isin value="IE00BTN1Y115"/>
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        <balance>10271.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1033981.57000000</valUSD>
        <pctVal>1.018738230002</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Emerald Holding Inc.</name>
        <lei>N/A</lei>
        <title>Emerald Holding Inc.</title>
        <cusip>29103W104</cusip>
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          <isin value="US29103W1045"/>
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        <balance>13630.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>93501.80000000</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>Two Harbors Investment Corp.</name>
        <lei>549300ZUIBT6KH4HU823</lei>
        <title>Two Harbors Investment Corp.</title>
        <cusip>90187B408</cusip>
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          <isin value="US90187B4086"/>
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        <balance>4986.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>67560.30000000</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>Spirit of Texas Bancshares Inc.</name>
        <lei>N/A</lei>
        <title>Spirit of Texas Bancshares Inc.</title>
        <cusip>84861D103</cusip>
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          <isin value="US84861D1037"/>
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        <balance>3924.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>72358.56000000</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>Daily Journal Corp.</name>
        <lei>N/A</lei>
        <title>Daily Journal Corp.</title>
        <cusip>233912104</cusip>
        <identifiers>
          <isin value="US2339121046"/>
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        <balance>677.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>169250.00000000</valUSD>
        <pctVal>0.166754853694</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>American Electric Power Co. Inc.</name>
        <lei>1B4S6S7G0TW5EE83BO58</lei>
        <title>American Electric Power Co. Inc.</title>
        <cusip>025537101</cusip>
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          <isin value="US0255371017"/>
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        <balance>3271.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>291969.46000000</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>Capitol Federal Financial Inc.</name>
        <lei>N/A</lei>
        <title>Capitol Federal Financial Inc.</title>
        <cusip>14057J101</cusip>
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          <isin value="US14057J1016"/>
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        <balance>37911.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>462703.76000000</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>Walmart Inc.</name>
        <lei>Y87794H0US1R65VBXU25</lei>
        <title>Walmart Inc.</title>
        <cusip>931142103</cusip>
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          <isin value="US9311421039"/>
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        <balance>14443.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1555222.24000000</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>Avangrid Inc.</name>
        <lei>549300OX0Q38NLSKPB49</lei>
        <title>Avangrid Inc.</title>
        <cusip>05351W103</cusip>
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          <isin value="US05351W1036"/>
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        <balance>4114.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>204424.66000000</valUSD>
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        <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>Par Pacific Holdings Inc.</name>
        <lei>549300BTNS7MHSHRLR55</lei>
        <title>Par Pacific Holdings Inc.</title>
        <cusip>69888T207</cusip>
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          <isin value="US69888T2078"/>
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        <balance>44005.00000000</balance>
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        <curCd>USD</curCd>
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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>John B Sanfilippo &amp; Son Inc.</name>
        <lei>5299007IBEYVXKYDUX28</lei>
        <title>John B Sanfilippo &amp; Son Inc.</title>
        <cusip>800422107</cusip>
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          <isin value="US8004221078"/>
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        <balance>1642.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>115251.98000000</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>L3Harris Technologies Inc.</name>
        <lei>549300UTE50ZMDBG8A20</lei>
        <title>L3Harris Technologies Inc.</title>
        <cusip>502431109</cusip>
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          <isin value="US5024311095"/>
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        <balance>1788.00000000</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>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Murphy USA Inc.</name>
        <lei>549300Y081F8XIKQIO72</lei>
        <title>Murphy USA Inc.</title>
        <cusip>626755102</cusip>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tootsie Roll Industries Inc.</name>
        <lei>529900SBKOV9XX4M4Q35</lei>
        <title>Tootsie Roll Industries Inc.</title>
        <cusip>890516107</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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Myriad Genetics Inc.</name>
        <lei>52990044IHUOUMETT163</lei>
        <title>Myriad Genetics Inc.</title>
        <cusip>62855J104</cusip>
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        <balance>3928.00000000</balance>
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        <valUSD>69211.36000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Evergy Inc.</name>
        <lei>549300PGTHDQY6PSUI61</lei>
        <title>Evergy Inc.</title>
        <cusip>30034W106</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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Globus Medical Inc.</name>
        <lei>5299003M2P4CIK0RF205</lei>
        <title>Globus Medical Inc.</title>
        <cusip>379577208</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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          <isCashCollateral>N</isCashCollateral>
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        <name>Anika Therapeutics Inc.</name>
        <lei>529900R9LS3Z0O6QH455</lei>
        <title>Anika Therapeutics Inc.</title>
        <cusip>035255108</cusip>
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        <balance>1873.00000000</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>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>McDonald's Corp.</name>
        <lei>UE2136O97NLB5BYP9H04</lei>
        <title>McDonald's Corp.</title>
        <cusip>580135101</cusip>
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        <balance>7031.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1365209.27000000</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>Denny's Corp.</name>
        <lei>54930037V56XOULXM917</lei>
        <title>Denny's Corp.</title>
        <cusip>24869P104</cusip>
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      <invstOrSec>
        <name>Kinder Morgan Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>H&amp;R Block Inc.</name>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Equity Commonwealth</name>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Providence Service Corp.</name>
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        <title>Providence Service Corp.</title>
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          <isin value="US7438151026"/>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MAXIMUS Inc.</name>
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        <title>MAXIMUS Inc.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EVERTEC Inc.</name>
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        <title>EVERTEC Inc.</title>
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          <isin value="PR30040P1032"/>
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        <assetCat>EC</assetCat>
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        <invCountry>PR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
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        <title>SP500 MIC EMIN FUT MAR20</title>
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          <ticker value="HWAH0"/>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Accenture plc</name>
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          <isin value="IE00B4BNMY34"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Columbia Financial Inc.</name>
        <lei>N/A</lei>
        <title>Columbia Financial Inc.</title>
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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>Target Corp.</name>
        <lei>8WDDFXB5T1Z6J0XC1L66</lei>
        <title>Target Corp.</title>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Liberty Media Corp-Liberty SiriusXM</name>
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        <title>Liberty Media Corp-Liberty SiriusXM</title>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Laboratory Corp. of America Holdings</name>
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      <invstOrSec>
        <name>Dollar General Corp.</name>
        <lei>OPX52SQVOZI8IVSWYU66</lei>
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        <name>Northwest Bancshares Inc.</name>
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        <title>Northwest Bancshares Inc.</title>
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        <name>TJX Cos. Inc.</name>
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        <name>Ares Commercial Real Estate Corp.</name>
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        <title>Ares Commercial Real Estate Corp.</title>
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        <name>CMS Energy Corp.</name>
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        <title>CMS Energy Corp.</title>
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      <invstOrSec>
        <name>Exantas Capital Corp.</name>
        <lei>549300RUJWPCMY4JFR46</lei>
        <title>Exantas Capital Corp.</title>
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      <invstOrSec>
        <name>Ruth's Hospitality Group Inc.</name>
        <lei>529900JQW9JP41OHOD14</lei>
        <title>Ruth's Hospitality Group Inc.</title>
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        <name>Duke Realty Corp.</name>
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        <title>Duke Realty Corp.</title>
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        <name>AutoZone Inc.</name>
        <lei>GA3JGKJ41LJKXDN23E90</lei>
        <title>AutoZone Inc.</title>
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        <name>NIC Inc.</name>
        <lei>529900B18T4Q37BZ0F35</lei>
        <title>NIC Inc.</title>
        <cusip>62914B100</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>QAD Inc.</name>
        <lei>N/A</lei>
        <title>QAD Inc.</title>
        <cusip>74727D306</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>
      <invstOrSec>
        <name>Newmont Corp.</name>
        <lei>549300VSP3RIX7FGDZ51</lei>
        <title>Newmont Corp.</title>
        <cusip>651639106</cusip>
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          <isin value="US6516391066"/>
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        <balance>38124.00000000</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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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Western Union Co.</name>
        <lei>28ID94QU1140NC23S047</lei>
        <title>Western Union Co.</title>
        <cusip>959802109</cusip>
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          <isin value="US9598021098"/>
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        <balance>48593.00000000</balance>
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        <curCd>USD</curCd>
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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>
      <invstOrSec>
        <name>Equity LifeStyle Properties Inc.</name>
        <lei>529900PEQG66LENB6798</lei>
        <title>Equity LifeStyle Properties Inc.</title>
        <cusip>29472R108</cusip>
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          <isin value="US29472R1086"/>
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        <balance>8612.00000000</balance>
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        <curCd>USD</curCd>
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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>Phibro Animal Health Corp.</name>
        <lei>549300U24SP4AF2JUX52</lei>
        <title>Phibro Animal Health Corp.</title>
        <cusip>71742Q106</cusip>
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          <isin value="US71742Q1067"/>
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        <balance>6763.00000000</balance>
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        <curCd>USD</curCd>
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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>Waterstone Financial Inc.</name>
        <lei>5493002KM21XRC2DCQ02</lei>
        <title>Waterstone Financial Inc.</title>
        <cusip>94188P101</cusip>
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          <isin value="US94188P1012"/>
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        <balance>39048.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>649368.24000000</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>
        <name>Equity Residential</name>
        <lei>5493008RACSH5EP3PI59</lei>
        <title>Equity Residential</title>
        <cusip>29476L107</cusip>
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          <isin value="US29476L1070"/>
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        <balance>4173.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>313392.30000000</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>Granite Point Mortgage Trust Inc.</name>
        <lei>529900VX2HQZ76AYIE02</lei>
        <title>Granite Point Mortgage Trust Inc.</title>
        <cusip>38741L107</cusip>
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          <isin value="US38741L1070"/>
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        <balance>51756.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>849833.52000000</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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      <invstOrSec>
        <name>AMETEK Inc.</name>
        <lei>549300WZDEF9KKE40E98</lei>
        <title>AMETEK Inc.</title>
        <cusip>031100100</cusip>
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          <isin value="US0311001004"/>
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        <balance>2299.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>197714.00000000</valUSD>
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        <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>Getty Realty Corp.</name>
        <lei>N/A</lei>
        <title>Getty Realty Corp.</title>
        <cusip>374297109</cusip>
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          <isin value="US3742971092"/>
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        <balance>2093.00000000</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SJW Group</name>
        <lei>529900H5794LNXNOYH10</lei>
        <title>SJW Group</title>
        <cusip>784305104</cusip>
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          <isin value="US7843051043"/>
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        <balance>14477.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>885702.86000000</valUSD>
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        <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>Mitek Systems Inc.</name>
        <lei>549300ABZAQ3R25XG118</lei>
        <title>Mitek Systems Inc.</title>
        <cusip>606710200</cusip>
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          <isin value="US6067102003"/>
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        <balance>81310.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>708210.10000000</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>AT&amp;T Inc.</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T Inc.</title>
        <cusip>00206R102</cusip>
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          <isin value="US00206R1023"/>
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        <balance>12575.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>442891.50000000</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>Hormel Foods Corp.</name>
        <lei>MSD54751OJP1FS2ND863</lei>
        <title>Hormel Foods Corp.</title>
        <cusip>440452100</cusip>
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          <isin value="US4404521001"/>
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        <balance>11575.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>481520.00000000</valUSD>
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        <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>Hanover Insurance Group Inc.</name>
        <lei>JJYR6MFKFF6CF8DBZ078</lei>
        <title>Hanover Insurance Group Inc.</title>
        <cusip>410867105</cusip>
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        <balance>2104.00000000</balance>
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        <curCd>USD</curCd>
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        <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>New York Mortgage Trust Inc.</name>
        <lei>549300JFGR0M7ULHWG48</lei>
        <title>New York Mortgage Trust Inc.</title>
        <cusip>649604501</cusip>
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          <isin value="US6496045013"/>
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        <balance>76981.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Broadridge Financial Solutions Inc.</name>
        <lei>N/A</lei>
        <title>Broadridge Financial Solutions Inc.</title>
        <cusip>11133T103</cusip>
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          <isin value="US11133T1034"/>
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        <balance>6029.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Weis Markets Inc.</name>
        <lei>N/A</lei>
        <title>Weis Markets Inc.</title>
        <cusip>948849104</cusip>
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          <isin value="US9488491047"/>
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        <balance>14652.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lawson Products Inc.</name>
        <lei>N/A</lei>
        <title>Lawson Products Inc./DE</title>
        <cusip>520776105</cusip>
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          <isin value="US5207761058"/>
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        <balance>3526.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Visa Inc.</name>
        <lei>549300JZ4OKEHW3DPJ59</lei>
        <title>Visa Inc.</title>
        <cusip>92826C839</cusip>
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        <balance>281.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Gladstone Land Corp.</name>
        <lei>54930002B3Q17H38FG74</lei>
        <title>Gladstone Land Corp.</title>
        <cusip>376549101</cusip>
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        <balance>9027.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Liberty Media Corp-Liberty Braves</name>
        <lei>N/A</lei>
        <title>Liberty Media Corp-Liberty Braves</title>
        <cusip>531229888</cusip>
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        <balance>26772.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DSP Group Inc.</name>
        <lei>N/A</lei>
        <title>DSP Group Inc.</title>
        <cusip>23332B106</cusip>
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        <balance>3187.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Exxon Mobil Corp.</name>
        <lei>J3WHBG0MTS7O8ZVMDC91</lei>
        <title>Exxon Mobil Corp.</title>
        <cusip>30231G102</cusip>
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        <balance>8778.00000000</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>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hackett Group Inc.</name>
        <lei>5K016KLIRB6156644289</lei>
        <title>Hackett Group Inc.</title>
        <cusip>404609109</cusip>
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        <balance>32413.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>499160.20000000</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>Sun Communities Inc.</name>
        <lei>549300H5GEOJYN41ZG57</lei>
        <title>Sun Communities Inc.</title>
        <cusip>866674104</cusip>
        <identifiers>
          <isin value="US8666741041"/>
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        <name>Tyler Technologies Inc.</name>
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      <invstOrSec>
        <name>Stewart Information Services Corp.</name>
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        <name>Extra Space Storage Inc.</name>
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        <name>Liberty Media Corp-Liberty Braves</name>
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        <name>Cass Information Systems Inc.</name>
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        <name>Altria Group Inc.</name>
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        <name>NextEra Energy Inc.</name>
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        <name>Citrix Systems Inc.</name>
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        <name>Exelon Corp.</name>
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        <name>KKR Real Estate Finance Trust Inc.</name>
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        <name>Viad Corp.</name>
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        <name>N/A</name>
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        <title>RUSSELL 2000 MINI MAR CME</title>
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        <name>El Pollo Loco Holdings Inc.</name>
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        <name>Public Service Enterprise Group Inc.</name>
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        <name>AGNC Investment Corp.</name>
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        <name>WP Carey Inc.</name>
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        <name>CorEnergy Infrastructure Trust Inc.</name>
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        <name>Vanguard Cmt Funds-Vanguard Market Liquidity Fund</name>
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        <name>Pfizer Inc.</name>
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        <name>AstroNova Inc.</name>
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        <name>American States Water Co.</name>
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        <name>Cherry Hill Mortgage Investment Corp.</name>
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        <name>Paychex Inc.</name>
        <lei>529900K900DW6SUBM174</lei>
        <title>Paychex Inc.</title>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Phillips 66</name>
        <lei>5493005JBO5YSIGK1814</lei>
        <title>Phillips 66</title>
        <cusip>718546104</cusip>
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          <isin value="US7185461040"/>
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        <balance>2584.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>193438.24000000</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>
      <invstOrSec>
        <name>Farmer Brothers Co.</name>
        <lei>5493006PMLETBTVJ3262</lei>
        <title>Farmer Brothers Co.</title>
        <cusip>307675108</cusip>
        <identifiers>
          <isin value="US3076751086"/>
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        <balance>5181.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>63985.35000000</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>
      <invstOrSec>
        <name>Public Storage</name>
        <lei>549300LMZF40TKJ6DM64</lei>
        <title>Public Storage</title>
        <cusip>74460D109</cusip>
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          <isin value="US74460D1090"/>
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        <balance>5932.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1240499.84000000</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>Walt Disney Co.</name>
        <lei>549300GZKULIZ0WOW665</lei>
        <title>Walt Disney Co.</title>
        <cusip>254687106</cusip>
        <identifiers>
          <isin value="US2546871060"/>
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        <balance>1359.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>159886.35000000</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>
      <invstOrSec>
        <name>McCormick &amp; Co. Inc.</name>
        <lei>549300JQQA6MQ4OJP259</lei>
        <title>McCormick &amp; Co. Inc./MD</title>
        <cusip>579780206</cusip>
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          <isin value="US5797802064"/>
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        <balance>3391.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>495730.29000000</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>Fidelity National Financial Inc.</name>
        <lei>549300CAZYIH39SYQ287</lei>
        <title>Fidelity National Financial Inc.</title>
        <cusip>31620R303</cusip>
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          <isin value="US31620R3030"/>
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        <balance>1023.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>39651.48000000</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>NewMarket Corp.</name>
        <lei>54930082CG88ERDREQ47</lei>
        <title>NewMarket Corp.</title>
        <cusip>651587107</cusip>
        <identifiers>
          <isin value="US6515871076"/>
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        <balance>2580.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1002562.20000000</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>EchoStar Corp.</name>
        <lei>549300EE20907QZ9GT38</lei>
        <title>EchoStar Corp.</title>
        <cusip>278768106</cusip>
        <identifiers>
          <isin value="US2787681061"/>
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        <balance>6600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>230472.00000000</valUSD>
        <pctVal>0.227074296251</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>Procter &amp; Gamble Co.</name>
        <lei>2572IBTT8CCZW6AU4141</lei>
        <title>Procter &amp; Gamble Co.</title>
        <cusip>742718109</cusip>
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          <isin value="US7427181091"/>
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        <balance>6553.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>741996.19000000</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>Xcel Energy Inc.</name>
        <lei>LGJNMI9GH8XIDG5RCM61</lei>
        <title>Xcel Energy Inc.</title>
        <cusip>98389B100</cusip>
        <identifiers>
          <isin value="US98389B1008"/>
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        <balance>3319.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>206840.08000000</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>Northrop Grumman Corp.</name>
        <lei>RIMU48P07456QXSO0R61</lei>
        <title>Northrop Grumman Corp.</title>
        <cusip>666807102</cusip>
        <identifiers>
          <isin value="US6668071029"/>
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        <balance>224.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>73660.16000000</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>TFS Financial Corp.</name>
        <lei>N/A</lei>
        <title>TFS Financial Corp.</title>
        <cusip>87240R107</cusip>
        <identifiers>
          <isin value="US87240R1077"/>
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        <balance>61257.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1252093.08000000</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>Merck &amp; Co. Inc.</name>
        <lei>4YV9Y5M8S0BRK1RP0397</lei>
        <title>Merck &amp; Co. Inc.</title>
        <cusip>58933Y105</cusip>
        <identifiers>
          <isin value="US58933Y1055"/>
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        <balance>13544.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1036928.64000000</valUSD>
        <pctVal>1.021641853203</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>Keurig Dr Pepper Inc.</name>
        <lei>DYTQ8KRTKO7Y2BVU5K74</lei>
        <title>Keurig Dr Pepper Inc.</title>
        <cusip>49271V100</cusip>
        <identifiers>
          <isin value="US49271V1008"/>
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        <balance>12401.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>345739.88000000</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>American Water Works Co. Inc.</name>
        <lei>549300DXHIJQMD5WFW18</lei>
        <title>American Water Works Co. Inc.</title>
        <cusip>030420103</cusip>
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          <isin value="US0304201033"/>
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        <balance>6423.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>794268.18000000</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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      <invstOrSec>
        <name>Blackstone Mortgage Trust Inc.</name>
        <lei>549300OLDJ20R2Y2UW20</lei>
        <title>Blackstone Mortgage Trust Inc.</title>
        <cusip>09257W100</cusip>
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          <isin value="US09257W1009"/>
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        <balance>33527.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1208983.62000000</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>Cboe Global Markets Inc.</name>
        <lei>529900RLNSGA90UPEH54</lei>
        <title>Cboe Global Markets Inc.</title>
        <cusip>12503M108</cusip>
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          <isin value="US12503M1080"/>
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        <balance>1784.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>203376.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Coca-Cola Co.</name>
        <lei>UWJKFUJFZ02DKWI3RY53</lei>
        <title>Coca-Cola Co.</title>
        <cusip>191216100</cusip>
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          <isin value="US1912161007"/>
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        <balance>4928.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>263598.72000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>White Mountains Insurance Group Ltd.</name>
        <lei>549300N3FL068JERBG02</lei>
        <title>White Mountains Insurance Group Ltd.</title>
        <cusip>G9618E107</cusip>
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          <isin value="BMG9618E1075"/>
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        <balance>1086.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1075248.60000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Flowers Foods Inc.</name>
        <lei>7YNCQQNDK8FBM9BBTK25</lei>
        <title>Flowers Foods Inc.</title>
        <cusip>343498101</cusip>
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          <isin value="US3434981011"/>
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        <balance>46628.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1003900.84000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Republic Services Inc.</name>
        <lei>NKNQHM6BLECKVOQP7O46</lei>
        <title>Republic Services Inc.</title>
        <cusip>760759100</cusip>
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        <balance>17106.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1543987.56000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TPG RE Finance Trust Inc.</name>
        <lei>N/A</lei>
        <title>TPG RE Finance Trust Inc.</title>
        <cusip>87266M107</cusip>
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          <isin value="US87266M1071"/>
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        <balance>79702.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1531872.44000000</valUSD>
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        <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>Black Knight Inc.</name>
        <lei>549300TUSNXS3BFFML48</lei>
        <title>Black Knight Inc.</title>
        <cusip>09215C105</cusip>
        <identifiers>
          <isin value="US09215C1053"/>
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        <balance>3097.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>206600.87000000</valUSD>
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        <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>Dollar Tree Inc.</name>
        <lei>549300PMSTQITB1WHR43</lei>
        <title>Dollar Tree Inc.</title>
        <cusip>256746108</cusip>
        <identifiers>
          <isin value="US2567461080"/>
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        <balance>444.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>36865.32000000</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>Starwood Property Trust Inc.</name>
        <lei>BUGSFQZERKRBFWIG5267</lei>
        <title>Starwood Property Trust Inc.</title>
        <cusip>85571B105</cusip>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>O'Reilly Automotive Inc.</name>
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      <invstOrSec>
        <name>Kearny Financial Corp.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Colgate-Palmolive Co.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Washington REIT</name>
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        <name>Provident Financial Services Inc.</name>
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      <invstOrSec>
        <name>Redwood Trust Inc.</name>
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        <name>N/A</name>
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      <invstOrSec>
        <name>Park Aerospace Corp.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Quest Diagnostics Inc.</name>
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        <name>Duke Energy Corp.</name>
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        <name>NVE Corp.</name>
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        <name>Aflac Inc.</name>
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        <name>Juniper Networks Inc.</name>
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        <name>Sprouts Farmers Market Inc.</name>
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        <name>National HealthCare Corp.</name>
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        <name>Easterly Government Properties Inc.</name>
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        <name>Hawaiian Electric Industries Inc.</name>
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        <name>Kimball International Inc.</name>
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        <name>Carriage Services Inc.</name>
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        <name>OSI Systems Inc.</name>
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        <name>Apollo Commercial Real Estate Finance Inc.</name>
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        <name>Loral Space &amp; Communications Inc.</name>
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        <name>MFA Financial Inc.</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Ennis Inc.</name>
        <lei>N/A</lei>
        <title>Ennis Inc.</title>
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          <isin value="US2933891028"/>
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        <balance>15094.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>303389.40000000</valUSD>
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        <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>International Money Express Inc.</name>
        <lei>N/A</lei>
        <title>International Money Express Inc.</title>
        <cusip>46005L101</cusip>
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          <isin value="US46005L1017"/>
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        <balance>4510.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>42484.20000000</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Lockheed Martin Corp.</name>
        <lei>DPRBOZP0K5RM2YE8UU08</lei>
        <title>Lockheed Martin Corp.</title>
        <cusip>539830109</cusip>
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          <isin value="US5398301094"/>
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        <balance>1307.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>483420.09000000</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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      <invstOrSec>
        <name>Southern Co.</name>
        <lei>549300FC3G3YU2FBZD92</lei>
        <title>Southern Co.</title>
        <cusip>842587107</cusip>
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          <isin value="US8425871071"/>
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        <balance>5195.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>313570.20000000</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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      <invstOrSec>
        <name>TopBuild Corp.</name>
        <lei>5493007YSKHOL4RWII46</lei>
        <title>TopBuild Corp.</title>
        <cusip>89055F103</cusip>
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          <isin value="US89055F1030"/>
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        <balance>474.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>47874.00000000</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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      <invstOrSec>
        <name>Amgen Inc.</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
        <title>Amgen Inc.</title>
        <cusip>031162100</cusip>
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          <isin value="US0311621009"/>
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        <balance>226.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>45138.98000000</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>Unitil Corp.</name>
        <lei>N/A</lei>
        <title>Unitil Corp.</title>
        <cusip>913259107</cusip>
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          <isin value="US9132591077"/>
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        <balance>5289.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>297982.26000000</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>Johnson &amp; Johnson</name>
        <lei>549300G0CFPGEF6X2043</lei>
        <title>Johnson &amp; Johnson</title>
        <cusip>478160104</cusip>
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          <isin value="US4781601046"/>
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        <balance>10548.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1418495.04000000</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>Madison Square Garden Co.</name>
        <lei>N/A</lei>
        <title>Madison Square Garden Co.</title>
        <cusip>55825T103</cusip>
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          <isin value="US55825T1034"/>
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        <balance>1328.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>355664.96000000</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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      <invstOrSec>
        <name>XBiotech Inc.</name>
        <lei>N/A</lei>
        <title>XBiotech Inc.</title>
        <cusip>98400H102</cusip>
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          <isin value="CA98400H1029"/>
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        <balance>3827.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>46919.02000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Cable One Inc.</name>
        <lei>549300648QS85T0XSH18</lei>
        <title>Cable One Inc.</title>
        <cusip>12685J105</cusip>
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          <isin value="US12685J1051"/>
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        <balance>625.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>983137.50000000</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>United Fire Group Inc.</name>
        <lei>N/A</lei>
        <title>United Fire Group Inc.</title>
        <cusip>910340108</cusip>
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          <isin value="US9103401082"/>
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        <balance>11861.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>454750.74000000</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>State Auto Financial Corp.</name>
        <lei>N/A</lei>
        <title>State Auto Financial Corp.</title>
        <cusip>855707105</cusip>
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          <isin value="US8557071052"/>
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        <balance>13292.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>332034.16000000</valUSD>
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        <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>Omnicom Group Inc.</name>
        <lei>HKUPACFHSSASQK8HLS17</lei>
        <title>Omnicom Group Inc.</title>
        <cusip>681919106</cusip>
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          <isin value="US6819191064"/>
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        <balance>531.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>36787.68000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Life Storage Inc.</name>
        <lei>W9EE01AFDDF9DQCQZC68</lei>
        <title>Life Storage Inc.</title>
        <cusip>53223X107</cusip>
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          <isin value="US53223X1072"/>
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        <balance>3751.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Cognizant Technology Solutions Corp.</name>
        <lei>5493006IEVQEFQO40L83</lei>
        <title>Cognizant Technology Solutions Corp.</title>
        <cusip>192446102</cusip>
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          <isin value="US1924461023"/>
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        <balance>3507.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>213681.51000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Annaly Capital Management Inc.</name>
        <lei>2DTL0G3FPRYUT58TI025</lei>
        <title>Annaly Capital Management Inc.</title>
        <cusip>035710409</cusip>
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        <balance>40624.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PennyMac Mortgage Investment Trust</name>
        <lei>549300BSSOQO1ZWDUJ97</lei>
        <title>PennyMac Mortgage Investment Trust</title>
        <cusip>70931T103</cusip>
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          <isin value="US70931T1034"/>
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        <balance>4341.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Southern National Bancorp of Virginia Inc.</name>
        <lei>549300JNX3M2EENG1F11</lei>
        <title>Southern National Bancorp of Virginia Inc.</title>
        <cusip>843395104</cusip>
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        <balance>2266.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lancaster Colony Corp.</name>
        <lei>529900X4O13HED1ZAS58</lei>
        <title>Lancaster Colony Corp.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Douglas Dynamics Inc.</name>
        <lei>529900CDFLKNQ0QT6580</lei>
        <title>Douglas Dynamics Inc.</title>
        <cusip>25960R105</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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          <isCashCollateral>N</isCashCollateral>
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        <name>Novagold Resources Inc.</name>
        <lei>529900587LVZTJ2BHS60</lei>
        <title>Novagold Resources Inc.</title>
        <cusip>66987E206</cusip>
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        <balance>68761.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Amdocs Ltd.</name>
        <lei>N/A</lei>
        <title>Amdocs Ltd.</title>
        <cusip>G02602103</cusip>
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          <isin value="GB0022569080"/>
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        <balance>22738.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>GG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bright Horizons Family Solutions Inc.</name>
        <lei>N/A</lei>
        <title>Bright Horizons Family Solutions Inc.</title>
        <cusip>109194100</cusip>
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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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      <invstOrSec>
        <name>Alexander's Inc.</name>
        <lei>549300TZM28P04U5R635</lei>
        <title>Alexander's Inc.</title>
        <cusip>014752109</cusip>
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          <isin value="US0147521092"/>
        </identifiers>
        <balance>740.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>230140.00000000</valUSD>
        <pctVal>0.226747190719</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>AMERISAFE Inc.</name>
        <lei>N/A</lei>
        <title>AMERISAFE Inc.</title>
        <cusip>03071H100</cusip>
        <identifiers>
          <isin value="US03071H1005"/>
        </identifiers>
        <balance>9423.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>614096.91000000</valUSD>
        <pctVal>0.605043665472</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>ExlService Holdings Inc.</name>
        <lei>81E3DTNF6OSH489ZOV15</lei>
        <title>ExlService Holdings Inc.</title>
        <cusip>302081104</cusip>
        <identifiers>
          <isin value="US3020811044"/>
        </identifiers>
        <balance>3340.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>249331.00000000</valUSD>
        <pctVal>0.245655269875</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>Waste Management Inc.</name>
        <lei>549300YX8JIID70NFS41</lei>
        <title>Waste Management Inc.</title>
        <cusip>94106L109</cusip>
        <identifiers>
          <isin value="US94106L1098"/>
        </identifiers>
        <balance>6363.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>705084.03000000</valUSD>
        <pctVal>0.694689419585</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>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2020-03-31</ncom:dateSigned>
      <ncom:nameOfApplicant>VANGUARD WELLINGTON FUND</ncom:nameOfApplicant>
      <ncom:signature>Christine M. Buchanan</ncom:signature>
      <ncom:signerName>Christine M. Buchanan</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
