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        <name>Dolby Laboratories, Inc.</name>
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        <name>Louisiana-Pacific Corp.</name>
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        <name>CubeSmart</name>
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        <name>Zions Bancorp NA</name>
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        <name>Autoliv, Inc.</name>
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        <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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        <name>Warner Music Group Corp.</name>
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        <name>Gentex Corp.</name>
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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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      <invstOrSec>
        <name>New Jersey Resources Corp.</name>
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      <invstOrSec>
        <name>Carlisle Cos., Inc.</name>
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        <name>EPR Properties</name>
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      <invstOrSec>
        <name>Timken Co. (The)</name>
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      <invstOrSec>
        <name>Haemonetics Corp.</name>
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        <name>AECOM</name>
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      <invstOrSec>
        <name>Lattice Semiconductor Corp.</name>
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        <name>Glacier Bancorp, Inc.</name>
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      <invstOrSec>
        <name>Semtech Corp.</name>
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        <title>Semtech Corp.</title>
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      <invstOrSec>
        <name>BJ's Wholesale Club Holdings, Inc.</name>
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        <name>Harley-Davidson, Inc.</name>
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      <invstOrSec>
        <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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      <invstOrSec>
        <name>Pinterest, Inc.</name>
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        <name>Gaming &amp; Leisure Properties, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Toll Brothers, Inc.</name>
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        <name>Stifel Financial Corp.</name>
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        <name>Lantheus Holdings, Inc.</name>
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        <name>BlackRock Funds III</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Choice Hotels International, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Starwood Property Trust, Inc.</name>
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        <name>Albertsons Cos., Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>UGI Corp.</name>
        <lei>DX6GCWD4Q1JO9CRE5I40</lei>
        <title>UGI Corp.</title>
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        <name>Viper Energy, Inc.</name>
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        <name>Nextpower, Inc.</name>
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        <name>MGIC Investment Corp.</name>
        <lei>254900S8483WM4M98R28</lei>
        <title>MGIC Investment Corp.</title>
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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>
        <lei>549300ZJUO7A58PNUW40</lei>
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        <name>Equitable Holdings, Inc.</name>
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        <name>Ally Financial, 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>IPG Photonics Corp.</name>
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        <name>Mueller Industries, Inc.</name>
        <lei>5493005IZFE4VJLLYG84</lei>
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        <name>KB Home</name>
        <lei>549300LGUCWQURMWLG09</lei>
        <title>KB Home</title>
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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>Visteon Corp.</name>
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        <name>GATX Corp.</name>
        <lei>549300IHYHCQP2PIR591</lei>
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        <name>Parsons Corp.</name>
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        <name>Terex Corp.</name>
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        <name>Greif, Inc.</name>
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        <name>United Bankshares, Inc.</name>
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        <name>Maplebear, Inc.</name>
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        <name>Dentsply Sirona, Inc.</name>
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        <name>Pinnacle Financial Partners, Inc.</name>
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        <name>Old Republic International Corp.</name>
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        <name>Genpact Ltd.</name>
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        <name>Regal Rexnord Corp.</name>
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        <name>Acuity, Inc.</name>
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        <name>Pilgrim's Pride Corp.</name>
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        <name>Exponent, Inc.</name>
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        <name>Amkor Technology, Inc.</name>
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        <name>Performance Food Group Co.</name>
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        <name>Bio-Rad Laboratories, Inc.</name>
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        <name>Universal Display Corp.</name>
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        <name>UMB Financial Corp.</name>
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        <name>Ashland, Inc.</name>
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        <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>Simpson Manufacturing Co., Inc.</name>
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        <name>TD SYNNEX Corp.</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>Littelfuse, Inc.</name>
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        <name>Whirlpool Corp.</name>
        <lei>WHENKOULSSK7WUM60H03</lei>
        <title>Whirlpool Corp.</title>
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        <name>Associated Banc-Corp.</name>
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        <name>Murphy Oil Corp.</name>
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        <name>GameStop Corp.</name>
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        <name>AGCO Corp.</name>
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        <name>International Bancshares Corp.</name>
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        <name>TXNM Energy, Inc.</name>
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        <title>TXNM Energy, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>RenaissanceRe Holdings Ltd.</name>
        <lei>EK6GB9U3U58PDI411C94</lei>
        <title>RenaissanceRe Holdings Ltd.</title>
        <cusip>N/A</cusip>
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          <isin value="BMG7496G1033"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>BM</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Independence Realty Trust, Inc.</name>
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        <title>Independence Realty Trust, Inc.</title>
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          <isin value="US45378A1060"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>American Airlines Group, Inc.</name>
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        <title>American Airlines Group, Inc.</title>
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          <isin value="US02376R1023"/>
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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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        <title>RPM International, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Houlihan Lokey, Inc.</name>
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          <isin value="US4415931009"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MKS, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Vontier Corp.</name>
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        <title>Vontier Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Commercial Metals Co.</name>
        <lei>549300OQS2LO07ZJ7N73</lei>
        <title>Commercial Metals Co.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Core &amp; Main, Inc.</name>
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          <isin value="US21874C1027"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Cullen/Frost Bankers, Inc.</name>
        <lei>529900V2E9G9AY665O34</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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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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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Western Alliance Bancorp</name>
        <lei>5493003VJXZ5JXT9S762</lei>
        <title>Western Alliance Bancorp</title>
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        <balance>512968.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MSC Industrial Direct Co., Inc.</name>
        <lei>0XVKH0LN6YGOWO2EGO17</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>Park Hotels &amp; Resorts, Inc.</name>
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        <title>Park Hotels &amp; Resorts, Inc.</title>
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        <name>Reliance, Inc.</name>
        <lei>549300E287ZOFT3C5Z56</lei>
        <title>Reliance, Inc.</title>
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      <invstOrSec>
        <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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        <name>Science Applications International Corp.</name>
        <lei>549300LZPNZIXQGZPZ48</lei>
        <title>Science Applications International Corp.</title>
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        <name>Janus Henderson Group plc</name>
        <lei>2138009WPYMWJN3RVF44</lei>
        <title>Janus Henderson Group plc</title>
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      <invstOrSec>
        <name>Olin Corp.</name>
        <lei>549300GKK294V7W57P06</lei>
        <title>Olin Corp.</title>
        <cusip>680665205</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Penske Automotive Group, Inc.</name>
        <lei>549300W7UTQ0M4C7LB15</lei>
        <title>Penske Automotive Group, Inc.</title>
        <cusip>70959W103</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Spire, Inc.</name>
        <lei>549300NXSY15DRY2R511</lei>
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        <name>Thor Industries, Inc.</name>
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      <invstOrSec>
        <name>Lear Corp.</name>
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        <title>Lear Corp.</title>
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      <invstOrSec>
        <name>Novanta, Inc.</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Onto Innovation, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Commerce Bancshares, Inc.</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>PBF Energy, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>American Financial Group, Inc.</name>
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        <name>Belden, Inc.</name>
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        <name>Dick's Sporting Goods, Inc.</name>
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      <invstOrSec>
        <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>
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        <name>Boston Beer Co., Inc. (The)</name>
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        <name>First Financial Bankshares, Inc.</name>
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        <name>NNN REIT, Inc.</name>
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        <name>Kite Realty Group Trust</name>
        <lei>N/A</lei>
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        </securityLending>
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        <name>AutoNation, Inc.</name>
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        <name>Columbia Banking System, Inc.</name>
        <lei>254900CTRJTQZ3BJ2V17</lei>
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        <name>Alcoa Corp.</name>
        <lei>549300T12EZ1F6PWWU29</lei>
        <title>Alcoa Corp.</title>
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        <name>Avnet, Inc.</name>
        <lei>XJI53DCPL7QABOWK4Z75</lei>
        <title>Avnet, Inc.</title>
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        <name>Nutanix, Inc.</name>
        <lei>549300X7J6E8TKVIXW09</lei>
        <title>Nutanix, Inc., Class A</title>
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        <name>Selective Insurance Group, Inc.</name>
        <lei>549300R3WGJWLE40R258</lei>
        <title>Selective Insurance Group, Inc.</title>
        <cusip>816300107</cusip>
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        <invCountry>US</invCountry>
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        <name>TransUnion</name>
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        <name>Lithia Motors, Inc.</name>
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        <name>N/A</name>
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        <name>Maximus, Inc.</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>Unum Group</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>
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        <name>Reinsurance Group of America, Inc.</name>
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        <name>Southstate Bank Corp.</name>
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        <title>Southstate Bank Corp.</title>
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        <name>Donaldson Co., Inc.</name>
        <lei>OZE6KXY9QQPR8EJ8WL20</lei>
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        <name>WESCO International, Inc.</name>
        <lei>529900TXOGREY3WNJ434</lei>
        <title>WESCO International, Inc.</title>
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        <name>DocuSign, Inc.</name>
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        <name>Toro Co. (The)</name>
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        <name>Portland General Electric Co.</name>
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        <name>Crane Co.</name>
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        <name>Hyatt Hotels Corp.</name>
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        <name>Webster Financial Corp.</name>
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        <name>MP Materials Corp.</name>
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        <name>Scotts Miracle-Gro Co. (The)</name>
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        <name>Avient Corp.</name>
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        <name>Valley National Bancorp</name>
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        <name>Home BancShares, Inc.</name>
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        <name>Vail Resorts, Inc.</name>
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        <name>Brixmor Property Group, Inc.</name>
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        <name>Burlington Stores, Inc.</name>
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        <name>Booz Allen Hamilton Holding Corp.</name>
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        <name>SLM Corp.</name>
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        <name>Chewy, Inc.</name>
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        <name>National Fuel Gas Co.</name>
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        <name>Sensata Technologies Holding plc</name>
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        <name>Lamar Advertising Co.</name>
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        <name>Envista Holdings Corp.</name>
        <lei>549300BX623VURJZ5269</lei>
        <title>Envista Holdings Corp.</title>
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        <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>206787.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9195817.89000000</valUSD>
        <pctVal>0.105299400909</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>8765.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10004546.30000000</valUSD>
        <pctVal>0.114559981979</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>304851.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11608726.08000000</valUSD>
        <pctVal>0.132929111491</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>325686.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24739108.56000000</valUSD>
        <pctVal>0.283282394407</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>38892.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>22464019.20000000</valUSD>
        <pctVal>0.257230818627</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>819310.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>40949113.80000000</valUSD>
        <pctVal>0.468899797985</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>258583.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23484508.06000000</valUSD>
        <pctVal>0.268916224632</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>88886.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13244902.86000000</valUSD>
        <pctVal>0.151664632004</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>83560.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28255814.00000000</valUSD>
        <pctVal>0.323551458066</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>2026-06-30</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>
  <documents>XXXX</documents>
</edgarSubmission>
