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      <invstOrSec>
        <name>INTERACTIVE BROKERS GROUP, INC.</name>
        <lei>5493004DT6DCDUZNDM53</lei>
        <title>INTERACTIVE BROKERS GROUP, INC. CL A</title>
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          <isin value="US45841N1072"/>
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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>
      <invstOrSec>
        <name>CASH</name>
        <lei>N/A</lei>
        <title>BLACKROCK LIQUIDITY FEDFUND INSTITUTIONAL SHARES</title>
        <cusip>09248U700</cusip>
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          <isin value="N/A"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="9358717.23000000" isCashCollateral="Y"/>
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      <invstOrSec>
        <name>ROYAL GOLD, INC.</name>
        <lei>5493001NGRU6SFL04184</lei>
        <title>ROYAL GOLD, INC.</title>
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          <isin value="US7802871084"/>
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        <balance>33782.00000000</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>TERADATA CORPORATION</name>
        <lei>549300JU9SOUHV4U4R71</lei>
        <title>TERADATA CORP.</title>
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          <isin value="US88076W1036"/>
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        <balance>56598.00000000</balance>
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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>TELEPHONE AND DATA SYSTEMS, INC.</name>
        <lei>N/A</lei>
        <title>TELEPHONE &amp; DATA SYSTEMS, INC.</title>
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          <isin value="US8794338298"/>
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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>COHERENT, INC.</name>
        <lei>549300RYOCKUMWACR010</lei>
        <title>COHERENT, INC.</title>
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          <isin value="US1924791031"/>
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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>TOPBUILD CORP.</name>
        <lei>5493007YSKHOL4RWII46</lei>
        <title>TOPBUILD CORP</title>
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          <isin value="US89055F1030"/>
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        <balance>17012.00000000</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>WINTRUST FINANCIAL CORPORATION</name>
        <lei>Q774KI4AW80FHFW33O61</lei>
        <title>WINTRUST FINANCIAL CORP.</title>
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          <isin value="US97650W1080"/>
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        <curCd>USD</curCd>
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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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>J2 GLOBAL, INC.</name>
        <lei>5493008OJYGLHD7MXA18</lei>
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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>WW International, Inc.</name>
        <lei>SGT8R1MU6ESIC7UJC518</lei>
        <title>WW INTERNATIONAL INC</title>
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        <balance>24760.00000000</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PROG Holdings, Inc</name>
        <lei>549300DHYTLBOVRXIG52</lei>
        <title>PROG HOLDINGS INC</title>
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        <balance>34658.00000000</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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PHYSICIANS REALTY TRUST</name>
        <lei>549300ITOVH0OY7PZC34</lei>
        <title>PHYSICIANS REALTY TRUST</title>
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        <balance>111624.00000000</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>FLUOR CORPORATION</name>
        <lei>CQ7WZ4NOFWT7FAE6Q943</lei>
        <title>FLUOR CORP.</title>
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        <balance>64862.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>ONE GAS, INC.</name>
        <lei>549300HXDWI0LATTX840</lei>
        <title>ONE GAS INC</title>
        <cusip>68235P108</cusip>
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        <balance>27658.00000000</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>YETI HOLDINGS, INC.</name>
        <lei>549300DSQICIGNT5GO63</lei>
        <title>YETI HOLDINGS INC</title>
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        <balance>38722.00000000</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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        <name>PROSPERITY BANCSHARES, 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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        <name>SILGAN HOLDINGS INC.</name>
        <lei>KAF673KJXD92C8KSLU49</lei>
        <title>SILGAN HOLDINGS</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>LIVERAMP HOLDINGS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>LIGAND PHARMACEUTICALS INCORPORATED</name>
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        <title>LIGAND PHARMACEUTICALS INC, - CLASS B</title>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>WATSCO, INC.</name>
        <lei>549300F1Y3LN5BX5WN75</lei>
        <title>WATSCO, INC.</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>THE CHEMOURS COMPANY</name>
        <lei>549300M1BOLNXL8DOV14</lei>
        <title>CHEMOURS CO/THE</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>CNO FINANCIAL GROUP, INC.</name>
        <lei>11XPYHB76MPM4Y4P2897</lei>
        <title>CNO FINCANCIAL GROUP INC</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>THE TIMKEN COMPANY</name>
        <lei>B0I35MLPFXZSE70ASS73</lei>
        <title>TIMKEN CO.</title>
        <cusip>887389104</cusip>
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        <balance>35087.00000000</balance>
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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>SEI INVESTMENTS COMPANY</name>
        <lei>5LJTIFADGZ6XH1RVOC11</lei>
        <title>SEI INVESTMENTS CO.</title>
        <cusip>784117103</cusip>
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        <balance>61623.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3818777.31000000</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>
      <invstOrSec>
        <name>MERCURY SYSTEMS, INC.</name>
        <lei>549300P3B84SGK7HH679</lei>
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        <cusip>589378108</cusip>
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          <isin value="US5893781089"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>PAYLOCITY HOLDING CORPORATION</name>
        <lei>549300VH75FTB4DIEE07</lei>
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          <isin value="US70438V1061"/>
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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>BELDEN INC.</name>
        <lei>68BKYO1JC791TTJHUE82</lei>
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          <isin value="US0774541066"/>
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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>THE WENDY'S COMPANY</name>
        <lei>529900M0JIUCMWVKHG76</lei>
        <title>THE WENDY'S COMPANY</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>ANTERO MIDSTREAM CORPORATION</name>
        <lei>N/A</lei>
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          <isin value="US03676B1026"/>
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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>EAST WEST BANCORP, INC.</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COMPASS MINERALS INTERNATIONAL, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HILL-ROM HOLDINGS, INC.</name>
        <lei>JLZ01A0E2071OH26RE45</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ALLIANCE DATA SYSTEMS CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NATIONAL RETAIL PROPERTIES, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MURPHY USA INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>EXELIXIS, INC.</name>
        <lei>254900PJQB59O2O95R37</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>TRAVEL + LEISURE CO.</name>
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        <title>TRAVEL + LEISURE CO</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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        <name>RELIANCE STEEL &amp; ALUMINUM CO.</name>
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        <title>RELIANCE STEEL &amp; ALUMINUM CO</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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        <name>LANCASTER COLONY CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>AVIS BUDGET GROUP, INC.</name>
        <lei>529900E95812SYWMCE44</lei>
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        <invCountry>US</invCountry>

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        <fairValLevel>1</fairValLevel>
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        <name>HALOZYME THERAPEUTICS, INC.</name>
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        <name>SANDERSON FARMS, INC.</name>
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        <name>BRIXMOR PROPERTY GROUP INC.</name>
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        <name>JAZZ PHARMACEUTICALS PUBLIC LIMITED COMPANY</name>
        <lei>635400GAUMJCLEZRRV50</lei>
        <title>JAZZ PHARMACEUTICALS PLC</title>
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        <invCountry>IE</invCountry>

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        <fairValLevel>1</fairValLevel>
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        <name>IAA, INC.</name>
        <lei>549300PZCOPC5178W747</lei>
        <title>IAA INC</title>
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        <invCountry>US</invCountry>

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        <fairValLevel>1</fairValLevel>
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        <name>INGEVITY CORPORATION</name>
        <lei>5493009UTFC4B5IMGF87</lei>
        <title>INGEVITY CORP</title>
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        <invCountry>US</invCountry>

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        <fairValLevel>1</fairValLevel>
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        <name>LENDINGTREE, INC.</name>
        <lei>549300ISY5YHUJZTON08</lei>
        <title>LENDINGTREE 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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        <name>FIRST HORIZON CORPORATION</name>
        <lei>TF3RXI1ZB1TQ30H9JV10</lei>
        <title>FIRST HORIZON CORP</title>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>JONES LANG LASALLE INCORPORATED</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>TOLL BROTHERS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>LOUISIANA-PACIFIC CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>NVENT ELECTRIC PLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>PNM RESOURCES, INC.</name>
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        <name>ENVISTA HOLDINGS CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>F.N.B. CORPORATION</name>
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        <name>FAIR ISAAC CORPORATION</name>
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        <name>COGNEX CORPORATION</name>
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        <fairValLevel>1</fairValLevel>
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        <name>GRACO INC</name>
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        <name>COMMERCIAL METALS COMPANY</name>
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        <name>JACK IN THE BOX INC.</name>
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        <name>SKECHERS U.S.A., INC.</name>
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        <name>MASTEC, INC.</name>
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        <name>EQT CORPORATION</name>
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        <name>APTARGROUP, INC.</name>
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        <name>BROOKS AUTOMATION, INC.</name>
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        <name>THE HAIN CELESTIAL GROUP, INC.</name>
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        <name>APARTMENT INCOME REIT CORP.</name>
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        <name>ENERSYS</name>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>DECKERS OUTDOOR CORPORATION</name>
        <lei>5493008LG4W3I6K8J118</lei>
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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>EPR PROPERTIES</name>
        <lei>549300YSSXFHMPOWZ492</lei>
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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>LINCOLN ELECTRIC HOLDINGS, 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>AECOM</name>
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        <curCd>USD</curCd>
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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>MSC INDUSTRIAL DIRECT CO., INC.</name>
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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>TEXAS ROADHOUSE, INC.</name>
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          <isin value="US8826811098"/>
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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>CIENA CORPORATION</name>
        <lei>W0CZ7N0GH8UIGXDM1H41</lei>
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          <isin value="US1717793095"/>
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        <balance>80235.00000000</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>IDACORP, 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>ASGN INCORPORATED</name>
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        <title>ASGN INC</title>
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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>OMEGA HEALTHCARE INVESTORS, INC.</name>
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        <title>OMEGA HEALTHCARE INVESTORS, INC.</title>
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          <isin value="US6819361006"/>
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        <balance>121267.00000000</balance>
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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>HOLLYFRONTIER CORPORATION</name>
        <lei>549300J3U2WK73C9ZK26</lei>
        <title>HOLLYFRONTIER CORP.</title>
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        <balance>77152.00000000</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>CATHAY GENERAL BANCORP</name>
        <lei>549300K1SLJ8C97H5L68</lei>
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        <balance>38954.00000000</balance>
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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>INGREDION INCORPORATED</name>
        <lei>PKSTQ48QDN0XSVS7YK88</lei>
        <title>INGREDION INC.</title>
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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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      <invstOrSec>
        <name>RENAISSANCERE HOLDINGS LTD.</name>
        <lei>EK6GB9U3U58PDI411C94</lei>
        <title>RENAISSANCERE HOLDINGS LTD.</title>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>UNITED THERAPEUTICS CORPORATION</name>
        <lei>5299005C4HZL4UWROC14</lei>
        <title>UNITED THERAPEUTICS CORP.</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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        <name>ADTALEM GLOBAL EDUCATION INC.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Bank Ozk</name>
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        <name>ENCOMPASS HEALTH CORPORATION</name>
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        <name>ACUITY BRANDS, INC.</name>
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        <name>CHEMED CORPORATION</name>
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        <name>HEALTHEQUITY, INC.</name>
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        <name>MANHATTAN ASSOCIATES, INC.</name>
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        <name>MINERALS TECHNOLOGIES INC.</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>FOX FACTORY HOLDING CORP.</name>
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        <title>FOX FACTORY HOLDING CORP</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MGIC INVESTMENT CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>LAMAR ADVERTISING COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>UMPQUA HOLDINGS CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>URBAN OUTFITTERS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>NATIONAL INSTRUMENTS CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CACI INTERNATIONAL INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>MATTEL, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>KIRBY CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>LEAR CORPORATION</name>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>OLLIE'S BARGAIN OUTLET HOLDINGS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>CURTISS-WRIGHT CORPORATION</name>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>THE MACERICH COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>KENNAMETAL INC.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>SYNOVUS FINANCIAL CORP.</name>
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        <name>JANUS HENDERSON GROUP PLC</name>
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        <invCountry>JE</invCountry>

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        <name>WOODWARD, INC.</name>
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        <name>WORLD WRESTLING ENTERTAINMENT, INC.</name>
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        <name>EASTGROUP PROPERTIES, INC.</name>
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        <name>INSPERITY, INC.</name>
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        <name>CHAMPIONX CORPORATION</name>
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        <name>S&amp;P MIDCAP 400 EMINI FUTURE SEP21</name>
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        <name>CROCS, INC.</name>
        <lei>549300B0J6YCXD63OG72</lei>
        <title>CROCS, INC.</title>
        <cusip>227046109</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>COMMERCE BANCSHARES, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>VALVOLINE INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>THE NEW YORK TIMES COMPANY</name>
        <lei>529900J1WEMMIW7BOH57</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ADIENT PUBLIC LIMITED COMPANY</name>
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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>COMMVAULT SYSTEMS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AMEDISYS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>NAVIENT CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>AMERICAN CAMPUS COMMUNITIES, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>CALLAWAY GOLF COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>GLACIER BANCORP, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>MAXIMUS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>HAEMONETICS CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>YELP INC.</name>
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        <name>XEROX HOLDINGS CORPORATION</name>
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        <name>NORDSON CORPORATION</name>
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        <name>NewMarket Corporation</name>
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        <name>FIRST SOLAR, INC.</name>
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        <name>Energizer Holdings, Inc.</name>
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        <name>AMKOR TECHNOLOGY, INC.</name>
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        <name>STEEL DYNAMICS, INC.</name>
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        <name>AMERICAN FINANCIAL GROUP, INC.</name>
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        <name>PRA HEALTH SCIENCES, INC.</name>
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        <name>CAMDEN PROPERTY TRUST</name>
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        <name>TEREX CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ALLETE, INC.</name>
        <lei>549300NNLSIMY6Z8OT86</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CORPORATE OFFICE PROPERTIES TRUST</name>
        <lei>YY1J47X6LF9TYY8JY420</lei>
        <title>CORPORATE OFFICE PROPERTIES</title>
        <cusip>22002T108</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KB HOME</name>
        <lei>549300LGUCWQURMWLG09</lei>
        <title>KB HOME</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FTI CONSULTING, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KINSALE CAPITAL GROUP, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MOLINA HEALTHCARE, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CYRUSONE 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>JETBLUE AIRWAYS CORPORATION</name>
        <lei>54930070J9H97ZO93T57</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AXON ENTERPRISE, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>TRIPADVISOR, INC.</name>
        <lei>549300XVG45PT5BART17</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SL GREEN REALTY CORP.</name>
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        <title>SL GREEN REALTY CORP</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CASEY'S GENERAL STORES, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Essential Utilities, Inc.</name>
        <lei>549300ILTEOF3E3QY357</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>RLI CORP.</name>
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        <name>RPM INTERNATIONAL INC.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>DARLING INGREDIENTS INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>VIASAT, INC.</name>
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        <name>FIRST INDUSTRIAL REALTY TRUST, INC.</name>
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        <name>OSHKOSH CORPORATION</name>
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        <title>OSHKOSH TRUCK CORP.</title>
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        <name>Progyny Inc</name>
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        <name>GENPACT LIMITED</name>
        <lei>529900OSEC6Q0L4L5B35</lei>
        <title>GENPACT LTD</title>
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        <name>THE BOSTON BEER COMPANY, INC.</name>
        <lei>529900Q02MQ0DCQNRM58</lei>
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        <name>Capri Holdings Limited</name>
        <lei>549300LPG8W0H1OX3A26</lei>
        <title>CAPRI HOLDINGS LTD</title>
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        <invCountry>VG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>KBR, INC.</name>
        <lei>254900OFQDXZRKRCV808</lei>
        <title>KBR, INC.</title>
        <cusip>48242W106</cusip>
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        <name>STIFEL FINANCIAL CORP.</name>
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      <invstOrSec>
        <name>LIFE STORAGE, INC.</name>
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        <name>AVIENT CORPORATION</name>
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        <fairValLevel>1</fairValLevel>
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        <name>TEMPUR SEALY INTERNATIONAL, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>RAYONIER INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>GREIF, INC.</name>
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        <name>ARROW ELECTRONICS, INC.</name>
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      <invstOrSec>
        <name>ICU MEDICAL, INC.</name>
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        <name>HERMAN MILLER, INC.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>SCIENTIFIC GAMES CORPORATION</name>
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        <title>SCIENTIFIC GAMES CORP.</title>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>SONOCO PRODUCTS COMPANY</name>
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        <fairValLevel>1</fairValLevel>
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        <name>THE GOODYEAR TIRE &amp; RUBBER COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>HEALTHCARE REALTY TRUST INCORPORATED</name>
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        <name>CIRRUS LOGIC, INC.</name>
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        <name>VISHAY INTERTECHNOLOGY, INC.</name>
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        <name>UNIVAR SOLUTIONS INC.</name>
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        <name>SUNRUN INC.</name>
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        <name>SIGNATURE BANK</name>
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        <title>SIGNATURE BANK</title>
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        <name>OLD REPUBLIC INTERNATIONAL CORPORATION</name>
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        <name>UMB Financial Corporation</name>
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        <name>R1 RCM INC.</name>
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        <name>Qualys Inc</name>
        <lei>549300EMBXYOW9W1XA17</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>RH</name>
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        <title>RH</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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        <name>RYDER SYSTEM, INC.</name>
        <lei>ZXJ6Y2OSPZXIVGRILD15</lei>
        <title>RYDER SYSTEM, INC.</title>
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      <invstOrSec>
        <name>Cree, Inc.</name>
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      <invstOrSec>
        <name>NCR CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>TRINITY INDUSTRIES, INC.</name>
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        <name>BJ'S WHOLESALE CLUB HOLDINGS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>TENET HEALTHCARE CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>SAILPOINT TECHNOLOGIES HOLDINGS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>SYNNEX CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>WINGSTOP INC.</name>
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        <name>PACWEST BANCORP</name>
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        <fairValLevel>1</fairValLevel>
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        <name>CULLEN/FROST BANKERS, INC.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>ALLEGHANY CORPORATION</name>
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        <name>BOYD GAMING CORPORATION</name>
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        <name>PRIMERICA, INC.</name>
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        <name>LUMENTUM HOLDINGS INC.</name>
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        <name>MSA Safety Incorporated</name>
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        <name>THE SCOTTS MIRACLE-GRO COMPANY</name>
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        <name>KAR AUCTION SERVICES, INC.</name>
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        <name>DOUGLAS EMMETT, INC.</name>
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        <name>INTERNATIONAL BANCSHARES CORPORATION</name>
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        <name>EMCOR GROUP, INC.</name>
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        <name>WORTHINGTON INDUSTRIES, INC.</name>
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        <name>URBAN EDGE PROPERTIES</name>
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        <name>PARK HOTELS &amp; RESORTS INC.</name>
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        <name>IRIDIUM COMMUNICATIONS INC.</name>
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      <invstOrSec>
        <name>JABIL INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>BRIGHTHOUSE FINANCIAL, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>HEXCEL CORPORATION</name>
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        <name>NATIONAL STORAGE AFFILIATES TRUST</name>
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      <invstOrSec>
        <name>FIRST FINANCIAL BANKSHARES, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>CINEMARK HOLDINGS, INC.</name>
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        <name>NEOGEN CORPORATION</name>
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        <name>CARLISLE COMPANIES INCORPORATED</name>
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        <name>ARROWHEAD PHARMACEUTICALS, INC.</name>
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        <name>LIVANOVA PLC</name>
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        <name>WASHINGTON FEDERAL, INC.</name>
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        <name>AMERICAN EAGLE OUTFITTERS, INC.</name>
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        <name>SERVICE CORPORATION INTERNATIONAL</name>
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        <name>LANDSTAR SYSTEM, INC.</name>
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        <name>EAGLE MATERIALS INC.</name>
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        <name>BROWN &amp; BROWN, INC.</name>
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        <name>WERNER ENTERPRISES, INC.</name>
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        <name>BLACKBAUD, INC.</name>
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        <name>SYNAPTICS INCORPORATED</name>
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        <name>LENNOX INTERNATIONAL INC.</name>
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        <name>TOOTSIE ROLL INDUSTRIES, INC.</name>
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        <name>SPIRIT REALTY CAPITAL, INC.</name>
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        <name>WEBSTER FINANCIAL CORPORATION</name>
        <lei>KMRURHT0VWKYS6Z5KU67</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>INTEGRA LIFESCIENCES HOLDINGS CORPORATION</name>
        <lei>WB7IJCYY8YFTENS4O147</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CABOT CORPORATION</name>
        <lei>K05C0SER542GQ6VLRO68</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>EMERGENT BIOSOLUTIONS INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MEDPACE HOLDINGS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SYNEOS HEALTH, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FACTSET RESEARCH SYSTEMS INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SENSIENT TECHNOLOGIES CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HANCOCK WHITNEY CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AVNET, INC.</name>
        <lei>XJI53DCPL7QABOWK4Z75</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>STERICYCLE, INC.</name>
        <lei>B8PTJH2P0AXSWSMP2136</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>REGAL BELOIT CORPORATION</name>
        <lei>QH78R09VCJGQKPBPYU33</lei>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ACI WORLDWIDE, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Olin Corporation</name>
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        <name>FIVE BELOW, INC.</name>
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        <name>ACADIA HEALTHCARE COMPANY, INC.</name>
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        <name>COLUMBIA SPORTSWEAR COMPANY</name>
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        <name>ASPEN TECHNOLOGY, INC.</name>
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        <name>XPO LOGISTICS, INC.</name>
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        <name>HUBBELL INCORPORATED</name>
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        <name>WEINGARTEN REALTY INVESTORS</name>
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        <title>WEINGARTEN REALTY INVESTORS</title>
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        <name>NATIONAL FUEL GAS COMPANY</name>
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        <name>HIGHWOODS PROPERTIES, INC.</name>
        <lei>ZIIGTYKL9T0X3HLTDX53</lei>
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        <name>PINNACLE FINANCIAL PARTNERS, INC.</name>
        <lei>54930098EZ8JMSAZGS24</lei>
        <title>PINNACLE FINANCIAL PARTNERS</title>
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      </invstOrSec>
      <invstOrSec>
        <name>Equitrans Midstream Corporation</name>
        <lei>549300RH0NLJNZ5SXU64</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SEMTECH CORPORATION</name>
        <lei>549300J7WUY317SW6O61</lei>
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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>KILROY REALTY CORPORATION</name>
        <lei>549300CXXI18B214UN80</lei>
        <title>KILROY REALTY CORP.</title>
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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>MURPHY OIL CORPORATION</name>
        <lei>QBKYQD0ODE7DC7PDIN91</lei>
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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>WEX INC.</name>
        <lei>T9M5IGROL1TL1G5OV478</lei>
        <title>WEX US</title>
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          <isin value="US96208T1043"/>
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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>KEMPER CORPORATION</name>
        <lei>549300FNI1JKTRY2PV09</lei>
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          <isin value="US4884011002"/>
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        <curCd>USD</curCd>
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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>HAWAIIAN ELECTRIC INDUSTRIES, INC.</name>
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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>WYNDHAM HOTELS &amp; RESORTS, INC.</name>
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        <title>WYNDHAM HOTELS &amp; RESORTS INC</title>
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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>FEDERATED HERMES, 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>GATX CORPORATION</name>
        <lei>549300IHYHCQP2PIR591</lei>
        <title>GATX CORP.</title>
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          <isin value="US3614481030"/>
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        <balance>18262.00000000</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>CLEAN HARBORS, INC.</name>
        <lei>5493000SJVZVZJKHJF48</lei>
        <title>CLEAN HARBORS, 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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        <name>PS BUSINESS PARKS, INC.</name>
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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>PEBBLEBROOK HOTEL TRUST</name>
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        <title>PEBBLEBROOK HOTEL TRUST</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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        <name>STRATEGIC EDUCATION, INC.</name>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>CIMAREX ENERGY CO.</name>
        <lei>11KYOFXPU1C4CQL1CL44</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>H &amp; R BLOCK, INC.</name>
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        <name>SILICON LABORATORIES INC.</name>
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        <name>GRAHAM HOLDINGS COMPANY</name>
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        <name>FIRSTCASH, INC.</name>
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        <name>HEALTHCARE SERVICES GROUP, INC.</name>
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        <name>MEDICAL PROPERTIES TRUST, INC.</name>
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        <name>WORLD FUEL SERVICES CORPORATION</name>
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        <title>WORLD FUEL SERVICES CORP.</title>
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        <name>BANK OF HAWAII CORPORATION</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ITT INC.</name>
        <lei>549300KDSERHTJOXUS80</lei>
        <title>ITT INC</title>
        <cusip>45073V108</cusip>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>ASSOCIATED BANC-CORP</name>
        <lei>549300N3CIN473IW5094</lei>
        <title>ASSOCIATED BANC-CORP.</title>
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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>COLFAX CORPORATION</name>
        <lei>635400OP2DYYYMOIYL17</lei>
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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>STAAR SURGICAL COMPANY</name>
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          <isin value="US8523123052"/>
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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>MDU RESOURCES GROUP, INC.</name>
        <lei>N/A</lei>
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          <isin value="US5526901096"/>
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        <curCd>USD</curCd>
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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>FULTON FINANCIAL CORPORATION</name>
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        <title>FULTON FINANCIAL CORP.</title>
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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>THE HANOVER INSURANCE GROUP, 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>AIRBNB, 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>TEXAS CAPITAL BANCSHARES, INC.</name>
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          <isin value="US88224Q1076"/>
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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>BRUNSWICK CORPORATION</name>
        <lei>YM4O38W15AX4YLLQKU27</lei>
        <title>BRUNSWICK CORP/DE</title>
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          <isin value="US1170431092"/>
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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>HELEN OF TROY LIMITED</name>
        <lei>N/A</lei>
        <title>HELEN OF TROY LTD</title>
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          <isin value="BMG4388N1065"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SCIENCE APPLICATIONS INTERNATIONAL CORPORATION</name>
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        <title>SSCIENCE APPLICATIONS INTERNATIONAL CORP</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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        <name>Dreyfus Treasury Securities Cash Management; Institutional Shares</name>
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        <assetCat>STIV</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GLOBUS MEDICAL, INC.</name>
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        <title>GLOBUS MEDICAL INC.</title>
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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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        <name>VALMONT INDUSTRIES, 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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        <name>CERIDIAN HCM HOLDING INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>BIO-TECHNE CORPORATION</name>
        <lei>54930073RLKQ51TILZ35</lei>
        <title>BIO-TECHNE CORP</title>
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        <fairValLevel>1</fairValLevel>
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        <name>OWENS CORNING</name>
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        <name>TREEHOUSE FOODS, INC.</name>
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        <name>NEW JERSEY RESOURCES CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>BUILDERS FIRSTSOURCE, INC.</name>
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        <name>TETRA TECH, INC.</name>
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        <name>PILGRIM'S PRIDE CORPORATION</name>
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        <invCountry>US</invCountry>

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        <fairValLevel>1</fairValLevel>
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        <name>MERCURY GENERAL CORPORATION</name>
        <lei>5493001Q9EXPCEL4W527</lei>
        <title>MERCURY GENERAL CORP.</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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        <name>AUTONATION, INC.</name>
        <lei>N/A</lei>
        <title>AUTONATION, INC.</title>
        <cusip>05329W102</cusip>
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      <invstOrSec>
        <name>PENUMBRA, INC.</name>
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      <invstOrSec>
        <name>PAPA JOHN'S INTERNATIONAL, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>REXFORD INDUSTRIAL REALTY, INC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ENVESTNET, INC.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>POTLATCHDELTIC CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>THE TORO COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>SLM CORPORATION</name>
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        <name>ESSENT GROUP LTD</name>
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      <invstOrSec>
        <name>KNIGHT-SWIFT TRANSPORTATION HOLDINGS INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>MARRIOTT VACATIONS WORLDWIDE CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TEGNA INC.</name>
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        <title>TEGNA INC COM</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NU SKIN ENTERPRISES, INC.</name>
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        <name>LHC GROUP, INC.</name>
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        <name>HUDSON PACIFIC PROPERTIES, INC.</name>
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        <name>FLOWERS FOODS, INC.</name>
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        <name>FLOWSERVE CORPORATION</name>
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        <name>CNX RESOURCES CORPORATION</name>
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        <name>FOOT LOCKER, INC.</name>
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        <name>AFFILIATED MANAGERS GROUP, INC.</name>
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        <name>CMC MATERIALS, INC.</name>
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        <name>SABRE CORPORATION</name>
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        <name>GRAND CANYON EDUCATION, INC.</name>
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        <name>NUVASIVE, INC.</name>
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        <name>EVERCORE INC.</name>
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        <title>EVERCORE INC.</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Cracker Barrel Old Country Store, Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NEKTAR THERAPEUTICS</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>UNITED STATES STEEL CORPORATION</name>
        <lei>JNLUVFYJT1OZSIQ24U47</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NEUROCRINE BIOSCIENCES, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>CORESITE REALTY CORPORATION</name>
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        <fairValLevel>1</fairValLevel>
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        <name>SPROUTS FARMERS MARKET, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>HARLEY-DAVIDSON, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>NEW YORK COMMUNITY BANCORP, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>SABRA HEALTH CARE REIT, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>UNIVERSAL DISPLAY CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ASHLAND GLOBAL HOLDINGS INC.</name>
        <lei>529900E4L9R04SB8HB11</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>GENTEX CORPORATION</name>
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        <name>NETSCOUT SYSTEMS, INC.</name>
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        <name>JOHN WILEY &amp; SONS, INC.</name>
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        <name>DICK'S SPORTING GOODS, INC.</name>
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        <name>QUIDEL CORPORATION</name>
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        <name>COUSINS PROPERTIES INCORPORATED</name>
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        <name>VALLEY NATIONAL BANCORP</name>
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        <name>REPLIGEN CORPORATION</name>
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        <name>TREX COMPANY, INC.</name>
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        <name>DONALDSON COMPANY, INC.</name>
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        <name>SOUTHWEST GAS HOLDINGS, INC.</name>
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        <name>THOR INDUSTRIES, INC.</name>
        <lei>254900XZO1228PDSG060</lei>
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      <invstOrSec>
        <name>COTY INC.</name>
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      <invstOrSec>
        <name>DANA INCORPORATED</name>
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      <invstOrSec>
        <name>TRI POINTE HOMES, INC.</name>
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        <name>THE MIDDLEBY CORPORATION</name>
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        <name>TRUSTMARK CORPORATION</name>
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        <name>LITHIA MOTORS, INC.</name>
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        <name>CABLE ONE, INC.</name>
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        <name>CIT GROUP INC.</name>
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        <name>CHOICE HOTELS INTERNATIONAL, INC.</name>
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        <name>JBG SMITH PROPERTIES</name>
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        <name>TARGA RESOURCES CORP.</name>
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        <name>JEFFERIES FINANCIAL GROUP INC.</name>
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        <name>HOME BANCSHARES, INC.</name>
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        <name>TAYLOR MORRISON HOME CORPORATION</name>
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        <name>PATTERSON COMPANIES, INC.</name>
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        <name>OGE ENERGY CORP.</name>
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        <name>BANCORPSOUTH BANK</name>
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        <name>GROCERY OUTLET HOLDING CORP.</name>
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        <name>Post Holdings, Inc.</name>
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        <title>II-VI INC</title>
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        <balance>54178.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3932781.02000000</valUSD>
        <pctVal>0.317114672842</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UGI CORPORATION</name>
        <lei>DX6GCWD4Q1JO9CRE5I40</lei>
        <title>UGI CORP.</title>
        <cusip>902681105</cusip>
        <identifiers>
          <isin value="US9026811052"/>
        </identifiers>
        <balance>107707.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4987911.17000000</valUSD>
        <pctVal>0.402193717575</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>STORE CAPITAL CORPORATION</name>
        <lei>5493004EA6C9IHDZ7N66</lei>
        <title>STORE CAPITAL CORP</title>
        <cusip>862121100</cusip>
        <identifiers>
          <isin value="US8621211007"/>
        </identifiers>
        <balance>125471.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4330004.21000000</valUSD>
        <pctVal>0.349144247157</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>SIX FLAGS ENTERTAINMENT CORPORATION</name>
        <lei>549300JYTDUAA4JQ3717</lei>
        <title>SIX FLAGS ENTERTAINMENT CORP</title>
        <cusip>83001A102</cusip>
        <identifiers>
          <isin value="US83001A1025"/>
        </identifiers>
        <balance>39275.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1699822.00000000</valUSD>
        <pctVal>0.137062931975</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>Spire Inc.</name>
        <lei>549300NXSY15DRY2R511</lei>
        <title>SPIRE INC</title>
        <cusip>84857L101</cusip>
        <identifiers>
          <isin value="US84857L1017"/>
        </identifiers>
        <balance>26677.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1927946.79000000</valUSD>
        <pctVal>0.155457477154</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>2021-07-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Allianz Variable Insurance Products Trust</ncom:nameOfApplicant>
      <ncom:signature>Bashir C. Asad</ncom:signature>
      <ncom:signerName>Bashir C. Asad</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
