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        <name>Wintrust Financial Corp.</name>
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        <name>RLI Corp.</name>
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        <name>Dolby Laboratories, Inc.</name>
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        <name>Hancock Whitney Corp.</name>
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        <name>Louisiana-Pacific Corp.</name>
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        <name>CubeSmart</name>
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      <invstOrSec>
        <name>Zions Bancorp NA</name>
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        <name>Ingredion, Inc.</name>
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        <name>Autoliv, Inc.</name>
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      <invstOrSec>
        <name>Esab Corp.</name>
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        <name>OGE Energy Corp.</name>
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        <name>Landstar System, Inc.</name>
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        <name>Permian Resources Corp.</name>
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      <invstOrSec>
        <name>Warner Music Group Corp.</name>
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        <name>Kyndryl Holdings, Inc.</name>
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        <name>Polaris, Inc.</name>
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        <name>Gentex Corp.</name>
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        <title>Gentex Corp.</title>
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        <name>BioMarin Pharmaceutical, Inc.</name>
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        <name>Ovintiv, Inc.</name>
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        <name>N/A</name>
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        <name>Equity LifeStyle Properties, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>New Jersey Resources Corp.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Carlisle Cos., Inc.</name>
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        <name>EPR Properties</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Flowers Foods, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Timken Co. (The)</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Haemonetics Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>AECOM</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Lattice Semiconductor Corp.</name>
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        <name>Glacier Bancorp, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>BJ's Wholesale Club Holdings, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Harley-Davidson, Inc.</name>
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        <name>Floor &amp; Decor Holdings, Inc.</name>
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        <name>Repligen Corp.</name>
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        <name>Owens Corning</name>
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        <name>Bank OZK</name>
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        <name>Old National Bancorp</name>
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        <name>Hamilton Lane, Inc.</name>
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        <name>WP Carey, Inc.</name>
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        <name>Abercrombie &amp; Fitch Co.</name>
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        <name>Fidelity National Financial, Inc.</name>
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        <name>Crane NXT Co.</name>
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        <name>Saia, Inc.</name>
        <lei>549300WNPG4N9GBOYB29</lei>
        <title>Saia, Inc.</title>
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        <name>Pinterest, Inc.</name>
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        <name>Toll Brothers, Inc.</name>
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        <name>Stifel Financial Corp.</name>
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        <name>BlackRock Funds III</name>
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        <name>Choice Hotels International, Inc.</name>
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        <name>Albertsons Cos., Inc.</name>
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      <invstOrSec>
        <name>UGI Corp.</name>
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        <name>Nextpower, Inc.</name>
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        <name>MGIC Investment Corp.</name>
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        <name>Fluor Corp.</name>
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        <title>Fluor Corp.</title>
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        <name>American Homes 4 Rent</name>
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        <name>Equitable Holdings, Inc.</name>
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        <name>EastGroup Properties, Inc.</name>
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        <name>Middleby Corp. (The)</name>
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        <name>Taylor Morrison Home Corp.</name>
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        <name>Range Resources Corp.</name>
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        <name>US Foods Holding Corp.</name>
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        <name>Bruker Corp.</name>
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        <name>Brink's Co. (The)</name>
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        <name>Essent Group Ltd.</name>
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        <name>HF Sinclair Corp.</name>
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        <name>StandardAero, Inc.</name>
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      <invstOrSec>
        <name>Nexstar Media Group, Inc.</name>
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      <invstOrSec>
        <name>Visteon Corp.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>GATX Corp.</name>
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      <invstOrSec>
        <name>Jones Lang LaSalle, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Illumina, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Parsons Corp.</name>
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        <title>Parsons Corp.</title>
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          <isin value="US70202L1026"/>
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        <fairValLevel>1</fairValLevel>
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        <name>Terex Corp.</name>
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        <title>Terex Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Greif, Inc.</name>
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        <title>Greif, Inc., Class A</title>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>United Bankshares, Inc.</name>
        <lei>5299005O3BAMJ9Z92V62</lei>
        <title>United Bankshares, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Maplebear, Inc.</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>Dentsply Sirona, Inc.</name>
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        <title>DENTSPLY SIRONA, Inc.</title>
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      <invstOrSec>
        <name>Pinnacle Financial Partners, Inc.</name>
        <lei>N/A</lei>
        <title>Pinnacle Financial Partners, Inc.</title>
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          <isin value="US72348N1090"/>
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      <invstOrSec>
        <name>Old Republic International Corp.</name>
        <lei>549300IV6O2YY2A1KH37</lei>
        <title>Old Republic International Corp.</title>
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        <name>Genpact Ltd.</name>
        <lei>529900OSEC6Q0L4L5B35</lei>
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        <invCountry>BM</invCountry>

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        <name>Regal Rexnord Corp.</name>
        <lei>QH78R09VCJGQKPBPYU33</lei>
        <title>Regal Rexnord Corp.</title>
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          <isin value="US7587501039"/>
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      <invstOrSec>
        <name>Acuity, Inc.</name>
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        <name>Northwestern Energy Group, Inc.</name>
        <lei>254900N1WG46G1VMDM34</lei>
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        <name>Pilgrim's Pride Corp.</name>
        <lei>549300ZSLGV64ZL3HD75</lei>
        <title>Pilgrim's Pride Corp.</title>
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        <name>Exponent, Inc.</name>
        <lei>529900NY3F5Q2NWPUZ42</lei>
        <title>Exponent, Inc.</title>
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        <name>Amkor Technology, Inc.</name>
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        <title>Amkor Technology, Inc.</title>
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        <name>Performance Food Group Co.</name>
        <lei>549300EUK8GR9IT1YK57</lei>
        <title>Performance Food Group Co.</title>
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        <name>Bio-Rad Laboratories, Inc.</name>
        <lei>549300ZC1GPV35XYDK53</lei>
        <title>Bio-Rad Laboratories, Inc., Class A</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Universal Display Corp.</name>
        <lei>N/A</lei>
        <title>Universal Display Corp.</title>
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      <invstOrSec>
        <name>UMB Financial Corp.</name>
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      <invstOrSec>
        <name>Ashland, Inc.</name>
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      <invstOrSec>
        <name>Lincoln Electric Holdings, Inc.</name>
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        <name>Advanced Drainage Systems, Inc.</name>
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        <name>GXO Logistics, Inc.</name>
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        <name>Mattel, Inc.</name>
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        <name>Brunswick Corp.</name>
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        <name>UFP Industries, Inc.</name>
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        <name>Darling Ingredients, Inc.</name>
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        <name>Cousins Properties, Inc.</name>
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        <name>Cognex Corp.</name>
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        <name>Simpson Manufacturing Co., Inc.</name>
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        <name>Ryder System, Inc.</name>
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        <name>Watsco, Inc.</name>
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        <name>TD SYNNEX Corp.</name>
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        <name>Prosperity Bancshares, Inc.</name>
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        <name>Columbia Sportswear Co.</name>
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        <name>Gap, Inc. (The)</name>
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        <name>Kilroy Realty Corp.</name>
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        <name>CNO Financial Group, Inc.</name>
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        <name>Littelfuse, Inc.</name>
        <lei>549300MY7HLQFYTPCX75</lei>
        <title>Littelfuse, Inc.</title>
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        <name>Whirlpool Corp.</name>
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        <title>Whirlpool Corp.</title>
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        <name>Chemed Corp.</name>
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        <name>Associated Banc-Corp.</name>
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        <name>GameStop Corp.</name>
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        <name>BellRing Brands, Inc.</name>
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        <name>Matador Resources Co.</name>
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      <invstOrSec>
        <name>International Bancshares Corp.</name>
        <lei>549300Y16R531AU8TX77</lei>
        <title>International Bancshares Corp.</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Allegro MicroSystems, Inc.</name>
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        <title>Allegro MicroSystems, Inc.</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TXNM Energy, Inc.</name>
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        <title>TXNM Energy, Inc.</title>
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          <isin value="US69349H1077"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>RenaissanceRe Holdings Ltd.</name>
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        <invCountry>BM</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Independence Realty Trust, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>American Airlines Group, Inc.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>RPM International, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Houlihan Lokey, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>MKS, Inc.</name>
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      <invstOrSec>
        <name>Vontier Corp.</name>
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        <title>Vontier Corp.</title>
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      <invstOrSec>
        <name>Commercial Metals Co.</name>
        <lei>549300OQS2LO07ZJ7N73</lei>
        <title>Commercial Metals Co.</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Core &amp; Main, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Cullen/Frost Bankers, Inc.</name>
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        <name>Wyndham Hotels &amp; Resorts, Inc.</name>
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        <name>Western Alliance Bancorp</name>
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        <title>Western Alliance Bancorp</title>
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        <name>MSC Industrial Direct Co., Inc.</name>
        <lei>0XVKH0LN6YGOWO2EGO17</lei>
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        <name>Park Hotels &amp; Resorts, Inc.</name>
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        <name>Masimo Corp.</name>
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        <name>Westlake Corp.</name>
        <lei>GOXNEVUM0LL78B1OS344</lei>
        <title>Westlake Corp.</title>
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        <name>Duolingo, Inc.</name>
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        <name>Trex Co., Inc.</name>
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        <title>Trex Co., Inc.</title>
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      <invstOrSec>
        <name>Science Applications International Corp.</name>
        <lei>549300LZPNZIXQGZPZ48</lei>
        <title>Science Applications International Corp.</title>
        <cusip>808625107</cusip>
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        <name>Janus Henderson Group plc</name>
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      <invstOrSec>
        <name>Olin Corp.</name>
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        <name>Spire, Inc.</name>
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        <name>Thor Industries, Inc.</name>
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        <name>Lear Corp.</name>
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        <title>Lear Corp.</title>
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        <name>Novanta, Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Onto Innovation, Inc.</name>
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        <name>Commerce Bancshares, Inc.</name>
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        <name>PBF Energy, Inc.</name>
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        <name>American Financial Group, Inc.</name>
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        <name>Belden, Inc.</name>
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        <title>Belden, Inc.</title>
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        <name>Dick's Sporting Goods, Inc.</name>
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        <name>First American Financial Corp.</name>
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        <name>Ryan Specialty Holdings, Inc.</name>
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        <name>CNH Industrial NV</name>
        <lei>549300WGC2HZ5J67V817</lei>
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        <name>Boston Beer Co., Inc. (The)</name>
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        <name>First Financial Bankshares, Inc.</name>
        <lei>549300XN3GTGOENGNV49</lei>
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        <name>NNN REIT, Inc.</name>
        <lei>5493008JKH5SOTI0JS97</lei>
        <title>NNN REIT, Inc.</title>
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        <name>Kite Realty Group Trust</name>
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        <name>AutoNation, Inc.</name>
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        <title>AutoNation, Inc.</title>
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        <name>Columbia Banking System, Inc.</name>
        <lei>254900CTRJTQZ3BJ2V17</lei>
        <title>Columbia Banking System, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Alcoa Corp.</name>
        <lei>549300T12EZ1F6PWWU29</lei>
        <title>Alcoa Corp.</title>
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        <name>Selective Insurance Group, Inc.</name>
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        <name>TransUnion</name>
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        <name>First Horizon Corp.</name>
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        <name>Rayonier, Inc.</name>
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        <name>Lithia Motors, Inc.</name>
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        <name>N/A</name>
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        <name>SEI Investments Co.</name>
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        <name>Healthcare Realty Trust, Inc.</name>
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        <name>East West Bancorp, Inc.</name>
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        <name>Marzetti Co. (The)</name>
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        <name>Vornado Realty Trust</name>
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        <name>BlackRock Funds III</name>
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        <name>Arrow Electronics, Inc.</name>
        <lei>549300YNNLBXT8N8R512</lei>
        <title>Arrow Electronics, Inc.</title>
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      <invstOrSec>
        <name>Southstate Bank Corp.</name>
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        <name>Blackbaud, Inc.</name>
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        <name>Donaldson Co., Inc.</name>
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        <name>WESCO International, Inc.</name>
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        <name>FNB Corp.</name>
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        <name>IDACORP, Inc.</name>
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        <name>Southwest Gas Holdings, Inc.</name>
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        <name>RH</name>
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        <name>DocuSign, Inc.</name>
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        <name>Essential Utilities, Inc.</name>
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        <name>Commvault Systems, Inc.</name>
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        <name>Euronet Worldwide, Inc.</name>
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        <name>Voya Financial, Inc.</name>
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        <name>Brighthouse Financial, Inc.</name>
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        <name>Crown Holdings, Inc.</name>
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        <name>STAG Industrial, Inc.</name>
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        <name>PVH Corp.</name>
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        <name>Cirrus Logic, Inc.</name>
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        <name>American Healthcare REIT, Inc.</name>
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        <name>Weatherford International plc</name>
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        <name>Toro Co. (The)</name>
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        <name>Webster Financial Corp.</name>
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        <name>Avient Corp.</name>
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        <balance>612650.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>47805079.50000000</valUSD>
        <pctVal>0.598946071844</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>SLM Corp.</name>
        <lei>N/A</lei>
        <title>SLM Corp.</title>
        <cusip>78442P106</cusip>
        <identifiers>
          <isin value="US78442P1066"/>
          <other otherDesc="Inhouse Asset ID" value="78442P106"/>
        </identifiers>
        <balance>455790.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9758463.90000000</valUSD>
        <pctVal>0.122263024793</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>Chewy, Inc.</name>
        <lei>254900NPQSTG9I422879</lei>
        <title>Chewy, Inc., Class A</title>
        <cusip>16679L109</cusip>
        <identifiers>
          <isin value="US16679L1098"/>
          <other otherDesc="Inhouse Asset ID" value="16679L109"/>
        </identifiers>
        <balance>399856.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10796112.00000000</valUSD>
        <pctVal>0.135263636024</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>National Fuel Gas Co.</name>
        <lei>8JB38FFW1Y3C1HM8E841</lei>
        <title>National Fuel Gas Co.</title>
        <cusip>636180101</cusip>
        <identifiers>
          <isin value="US6361801011"/>
          <other otherDesc="Inhouse Asset ID" value="636180101"/>
        </identifiers>
        <balance>183454.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17237337.84000000</valUSD>
        <pctVal>0.215965246712</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>Sensata Technologies Holding plc</name>
        <lei>529900MS7KFYCY9MS037</lei>
        <title>Sensata Technologies Holding plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00BFMBMT84"/>
          <other otherDesc="Inhouse Asset ID" value="SBFMBMT84"/>
        </identifiers>
        <balance>740904.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26094638.88000000</valUSD>
        <pctVal>0.326937673085</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Lamar Advertising Co.</name>
        <lei>529900Y8WW4MKVPTB543</lei>
        <title>Lamar Advertising Co., Class A</title>
        <cusip>512816109</cusip>
        <identifiers>
          <isin value="US5128161099"/>
          <other otherDesc="Inhouse Asset ID" value="512816109"/>
        </identifiers>
        <balance>176732.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>22384875.12000000</valUSD>
        <pctVal>0.280458335434</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>Envista Holdings Corp.</name>
        <lei>549300BX623VURJZ5269</lei>
        <title>Envista Holdings Corp.</title>
        <cusip>29415F104</cusip>
        <identifiers>
          <isin value="US29415F1049"/>
          <other otherDesc="Inhouse Asset ID" value="29415F104"/>
        </identifiers>
        <balance>832485.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21120144.45000000</valUSD>
        <pctVal>0.264612624587</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>National Storage Affiliates Trust</name>
        <lei>529900FS06O8GOYNR108</lei>
        <title>National Storage Affiliates Trust</title>
        <cusip>637870106</cusip>
        <identifiers>
          <isin value="US6378701063"/>
          <other otherDesc="Inhouse Asset ID" value="637870106"/>
        </identifiers>
        <balance>208597.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7872450.78000000</valUSD>
        <pctVal>0.098633315116</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>Graham Holdings Co.</name>
        <lei>529900BOSCEEEMAFQJ29</lei>
        <title>Graham Holdings Co., Class B</title>
        <cusip>384637104</cusip>
        <identifiers>
          <isin value="US3846371041"/>
          <other otherDesc="Inhouse Asset ID" value="384637104"/>
        </identifiers>
        <balance>9019.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9535427.94000000</valUSD>
        <pctVal>0.119468624835</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>H&amp;R Block, Inc.</name>
        <lei>549300CE3KUCWLZBG404</lei>
        <title>H&amp;R Block, Inc.</title>
        <cusip>093671105</cusip>
        <identifiers>
          <isin value="US0936711052"/>
          <other otherDesc="Inhouse Asset ID" value="093671105"/>
        </identifiers>
        <balance>309709.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9830163.66000000</valUSD>
        <pctVal>0.123161345432</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>Service Corp. International</name>
        <lei>549300RKVM2ME20JHZ15</lei>
        <title>Service Corp. International</title>
        <cusip>817565104</cusip>
        <identifiers>
          <isin value="US8175651046"/>
          <other otherDesc="Inhouse Asset ID" value="817565104"/>
        </identifiers>
        <balance>332359.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>27422941.09000000</valUSD>
        <pctVal>0.343579866743</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>Valmont Industries, Inc.</name>
        <lei>5493009ZGZJJ8F77JN08</lei>
        <title>Valmont Industries, Inc.</title>
        <cusip>920253101</cusip>
        <identifiers>
          <isin value="US9202531011"/>
          <other otherDesc="Inhouse Asset ID" value="920253101"/>
        </identifiers>
        <balance>40018.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15989992.26000000</valUSD>
        <pctVal>0.200337352288</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>Coty, Inc.</name>
        <lei>549300BO9IWPF3S48F93</lei>
        <title>Coty, Inc., Class A</title>
        <cusip>222070203</cusip>
        <identifiers>
          <isin value="US2220702037"/>
          <other otherDesc="Inhouse Asset ID" value="222070203"/>
        </identifiers>
        <balance>1870007.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3758714.07000000</valUSD>
        <pctVal>0.047092632225</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>Jefferies Financial Group, Inc.</name>
        <lei>549300HOF34RGOJ5YL07</lei>
        <title>Jefferies Financial Group, Inc.</title>
        <cusip>47233W109</cusip>
        <identifiers>
          <isin value="US47233W1099"/>
          <other otherDesc="Inhouse Asset ID" value="47233W109"/>
        </identifiers>
        <balance>839964.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>34665314.28000000</valUSD>
        <pctVal>0.434318989413</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>Cabot Corp.</name>
        <lei>K05C0SER542GQ6VLRO68</lei>
        <title>Cabot Corp.</title>
        <cusip>127055101</cusip>
        <identifiers>
          <isin value="US1270551013"/>
          <other otherDesc="Inhouse Asset ID" value="127055101"/>
        </identifiers>
        <balance>265239.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19975149.09000000</valUSD>
        <pctVal>0.250267067999</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>FTI Consulting, Inc.</name>
        <lei>549300K17GM8EQD0FQ48</lei>
        <title>FTI Consulting, Inc.</title>
        <cusip>302941109</cusip>
        <identifiers>
          <isin value="US3029411093"/>
          <other otherDesc="Inhouse Asset ID" value="302941109"/>
        </identifiers>
        <balance>92576.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16364659.52000000</valUSD>
        <pctVal>0.205031528847</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>Applied Industrial Technologies, Inc.</name>
        <lei>549300NU173IJRC6PO38</lei>
        <title>Applied Industrial Technologies, Inc.</title>
        <cusip>03820C105</cusip>
        <identifiers>
          <isin value="US03820C1053"/>
          <other otherDesc="Inhouse Asset ID" value="03820C105"/>
        </identifiers>
        <balance>85522.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>22690697.04000000</valUSD>
        <pctVal>0.284289954157</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>
    <explntrNotes>



      <explntrNote note="Monthly returns presented in B.5.a have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>

      <explntrNote note="IBORs are undergoing a change as regulators and industry groups have recommended that firms consider adoption of alternative, overnight risk-free rates (RFRs). Floating rate swap terms reflected as Libors may be using the RFR to calculate the actual rate." noteItem="C.11.f.i.2"/>

    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-03-31</ncom:dateSigned>
      <ncom:nameOfApplicant>iShares Trust</ncom:nameOfApplicant>
      <ncom:signature>Chuck Pulsfort</ncom:signature>
      <ncom:signerName>Chuck Pulsfort</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
