<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/nport" xmlns:com="http://www.sec.gov/edgar/common" xmlns:ncom="http://www.sec.gov/edgar/nportcommon" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.sec.gov/edgar/nport eis_NPORT_Filer.xsd">
  <headerData>
    <submissionType>NPORT-P</submissionType>
    <isConfidential>false</isConfidential>
    <filerInfo>

      <filer>
        <issuerCredentials>
          <cik>0001199046</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>

      <seriesClassInfo>
        <seriesId>S000038330</seriesId>
        <classId>C000118268</classId>
      </seriesClassInfo>


    </filerInfo>
  </headerData>
  <formData>
    <genInfo>
      <regName>Unified Series Trust</regName>
      <regFileNumber>811-21237</regFileNumber>
      <regCik>0001199046</regCik>
      <regLei>549300NFHRL589EP7U13</regLei>
      <regStreet1>225 Pictoria Drive</regStreet1>
      <regStreet2>Suite 450</regStreet2>
      <regCity>Cincinnati</regCity>
      <regStateConditional regCountry="US" regState="US-OH"/>
      <regZipOrPostalCode>45246</regZipOrPostalCode>
      <regPhone>513-587-3400</regPhone>
      <seriesName>CRAWFORD SMALL CAP DIVIDEND FUND</seriesName>
      <seriesId>S000038330</seriesId>
      <seriesLei>549300TMFBLWTG3IR612</seriesLei>
      <repPdEnd>2026-12-31</repPdEnd>
      <repPdDate>2026-03-31</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>345063827.25</totAssets>
      <totLiabs>1664468.79</totLiabs>
      <netAssets>343399358.46</netAssets>
      <assetsAttrMiscSec>0.00000000</assetsAttrMiscSec>
      <assetsInvested>0.00000000</assetsInvested>
      <amtPayOneYrBanksBorr>0.00000000</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0.00000000</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0.00000000</amtPayOneYrOthAffil>
      <amtPayOneYrOther>0.00000000</amtPayOneYrOther>
      <amtPayAftOneYrBanksBorr>0.00000000</amtPayAftOneYrBanksBorr>
      <amtPayAftOneYrCtrldComp>0.00000000</amtPayAftOneYrCtrldComp>
      <amtPayAftOneYrOthAffil>0.00000000</amtPayAftOneYrOthAffil>
      <amtPayAftOneYrOther>0.00000000</amtPayAftOneYrOther>
      <delayDeliv>0.00000000</delayDeliv>
      <standByCommit>0.00000000</standByCommit>
      <liquidPref>0.00000000</liquidPref>
      <cshNotRptdInCorD>0</cshNotRptdInCorD>
      <isNonCashCollateral>N</isNonCashCollateral>
      <returnInfo>
        <monthlyTotReturns>
          <monthlyTotReturn classId="C000118268" rtn1="6.37400800" rtn2="5.72866600" rtn3="-7.27323600"/>
        </monthlyTotReturns>
        <othMon1 netRealizedGain="1632349.04000000" netUnrealizedAppr="18981200.12000000"/>
        <othMon2 netRealizedGain="4859795.79000000" netUnrealizedAppr="14825970.30000000"/>
        <othMon3 netRealizedGain="-2264053.47000000" netUnrealizedAppr="-25454160.69000000"/>
      </returnInfo>
      <mon1Flow redemption="6033372.42000000" reinvestment="0.00000000" sales="9842085.10000000"/>
      <mon2Flow redemption="1586394.39000000" reinvestment="0.00000000" sales="1543895.81000000"/>
      <mon3Flow redemption="3247991.75000000" reinvestment="0.00000000" sales="1296850.01000000"/>

    </fundInfo>
    <invstOrSecs>
      <invstOrSec>
        <name>A10 Networks Inc</name>
        <lei>549300UQD4IWUML81Q35</lei>
        <title>A10 Networks, Inc. </title>
        <cusip>002121101</cusip>
        <identifiers>
          <isin value="US0021211018"/>
        </identifiers>
        <balance>209527.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4844264.24000000</valUSD>
        <pctVal>1.410679467115</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>AZZ Inc</name>
        <lei>549300HD1X2NFLWPYC83</lei>
        <title>AZZ, Inc. </title>
        <cusip>002474104</cusip>
        <identifiers>
          <isin value="US0024741045"/>
        </identifiers>
        <balance>63371.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7929613.23000000</valUSD>
        <pctVal>2.309152022170</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>Academy Sports and Outdoors Inc</name>
        <lei>529900HST589BD301M91</lei>
        <title>Academy Sports &amp; Outdoors, Inc. </title>
        <cusip>00402L107</cusip>
        <identifiers>
          <isin value="US00402L1070"/>
        </identifiers>
        <balance>124710.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7039879.50000000</valUSD>
        <pctVal>2.050056101319</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>Advanced Energy Industries, Inc.</name>
        <lei>549300756XI3QLFT2U27</lei>
        <title>Advanced Energy Industries, Inc. </title>
        <cusip>007973100</cusip>
        <identifiers>
          <isin value="US0079731008"/>
        </identifiers>
        <balance>21230.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6851133.30000000</valUSD>
        <pctVal>1.995092049887</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>Kinetik Holdings Inc</name>
        <lei>N/A</lei>
        <title>Kinetik Holdings, Inc. </title>
        <cusip>02215L209</cusip>
        <identifiers>
          <isin value="US02215L2097"/>
        </identifiers>
        <balance>104620.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5064654.20000000</valUSD>
        <pctVal>1.474858375598</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>Artisan Partners Asset Management Inc.</name>
        <lei>549300T1FUI6JF63XU51</lei>
        <title>Artisan Partners Asset Management, Inc. </title>
        <cusip>04316A108</cusip>
        <identifiers>
          <isin value="US04316A1088"/>
        </identifiers>
        <balance>82330.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2995988.70000000</valUSD>
        <pctVal>0.872450290366</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>BancFirst Corp.</name>
        <lei>549300EJEHGBP4IO2J30</lei>
        <title>BancFirst Corporation </title>
        <cusip>05945F103</cusip>
        <identifiers>
          <isin value="US05945F1030"/>
        </identifiers>
        <balance>46019.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4993061.50000000</valUSD>
        <pctVal>1.454010142124</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>Belden Inc.</name>
        <lei>68BKYO1JC791TTJHUE82</lei>
        <title>Belden, Inc. </title>
        <cusip>077454106</cusip>
        <identifiers>
          <isin value="US0774541066"/>
        </identifiers>
        <balance>50975.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5853459.25000000</valUSD>
        <pctVal>1.704563245618</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>Black Hills Corporation</name>
        <lei>3MGELCRSTNSAMJ962671</lei>
        <title>Black Hills Corporation </title>
        <cusip>092113109</cusip>
        <identifiers>
          <isin value="US0921131092"/>
        </identifiers>
        <balance>88852.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6167217.32000000</valUSD>
        <pctVal>1.795931520564</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>Block(H&amp;R)Inc</name>
        <lei>549300CE3KUCWLZBG404</lei>
        <title>H&amp;R Block, Inc. </title>
        <cusip>093671105</cusip>
        <identifiers>
          <isin value="US0936711052"/>
        </identifiers>
        <balance>72421.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2298642.54000000</valUSD>
        <pctVal>0.669378810230</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>CTS Corporation</name>
        <lei>549300YV1HQLBVHOI649</lei>
        <title>CTS Corporation </title>
        <cusip>126501105</cusip>
        <identifiers>
          <isin value="US1265011056"/>
        </identifiers>
        <balance>72363.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3456056.88000000</valUSD>
        <pctVal>1.006424966982</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>Cactus Inc</name>
        <lei>549300J3T8C9F8QFKV08</lei>
        <title>Cactus, Inc. </title>
        <cusip>127203107</cusip>
        <identifiers>
          <isin value="US1272031071"/>
        </identifiers>
        <balance>61070.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2892885.90000000</valUSD>
        <pctVal>0.842426122452</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>Cadre Holdings Inc.</name>
        <lei>2549006IKQEWJ8M7CB97</lei>
        <title>Cadre Holdings, Inc. </title>
        <cusip>12763L105</cusip>
        <identifiers>
          <isin value="US12763L1052"/>
        </identifiers>
        <balance>190050.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5830734.00000000</valUSD>
        <pctVal>1.697945513395</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>California Water Service Group</name>
        <lei>529900QABDOBU6UVRQ36</lei>
        <title>California Water Service Group </title>
        <cusip>130788102</cusip>
        <identifiers>
          <isin value="US1307881029"/>
        </identifiers>
        <balance>80429.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3646650.86000000</valUSD>
        <pctVal>1.061927103286</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>Cass Information Systems Inc.</name>
        <lei>549300G7XPIPR7SJ2F38</lei>
        <title>Cass Information Systems, Inc. </title>
        <cusip>14808P109</cusip>
        <identifiers>
          <isin value="US14808P1093"/>
        </identifiers>
        <balance>81572.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3590799.44000000</valUSD>
        <pctVal>1.045662827124</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>Cognex Corp</name>
        <lei>549300JQTYZCLC43S226</lei>
        <title>Cognex Corporation </title>
        <cusip>192422103</cusip>
        <identifiers>
          <isin value="US1924221039"/>
        </identifiers>
        <balance>97931.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4797639.69000000</valUSD>
        <pctVal>1.397102112105</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>Embecta Corp.</name>
        <lei>549300RPG8GXVDHNXZ62</lei>
        <title>Embecta Corporation </title>
        <cusip>29082K105</cusip>
        <identifiers>
          <isin value="US29082K1051"/>
        </identifiers>
        <balance>286405.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2531820.20000000</valUSD>
        <pctVal>0.737281575409</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>ESCO Technologies Inc.</name>
        <lei>5493007JJLP5MEWVDH10</lei>
        <title>ESCO Technologies, Inc. </title>
        <cusip>296315104</cusip>
        <identifiers>
          <isin value="US2963151046"/>
        </identifiers>
        <balance>30874.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8687017.38000000</valUSD>
        <pctVal>2.529712757460</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>First Hawaiian Inc.</name>
        <lei>5493002DJSH46F5OLV06</lei>
        <title>First Hawaiian, Inc. </title>
        <cusip>32051X108</cusip>
        <identifiers>
          <isin value="US32051X1081"/>
        </identifiers>
        <balance>141237.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3480079.68000000</valUSD>
        <pctVal>1.013420553726</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>Firstcash Holdings Inc</name>
        <lei>N/A</lei>
        <title>FirstCash Holdings, Inc. </title>
        <cusip>33768G107</cusip>
        <identifiers>
          <isin value="US33768G1076"/>
        </identifiers>
        <balance>27094.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5093672.00000000</valUSD>
        <pctVal>1.483308536988</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>Franklin Electric Co Inc</name>
        <lei>RR6AURIKMXUE4Q24G284</lei>
        <title>Franklin Electric Company, Inc. </title>
        <cusip>353514102</cusip>
        <identifiers>
          <isin value="US3535141028"/>
        </identifiers>
        <balance>67990.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6266638.30000000</valUSD>
        <pctVal>1.824883519906</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 B Fuller Company</name>
        <lei>JSMX3Z5FOYM8V0Q52357</lei>
        <title>HB Fuller Company </title>
        <cusip>359694106</cusip>
        <identifiers>
          <isin value="US3596941068"/>
        </identifiers>
        <balance>79754.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4919226.72000000</valUSD>
        <pctVal>1.432509001199</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>German American Bancorp Inc.</name>
        <lei>5493002JDOI3GTNVUD76</lei>
        <title>German American Bancorp, Inc. </title>
        <cusip>373865104</cusip>
        <identifiers>
          <isin value="US3738651047"/>
        </identifiers>
        <balance>103889.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4341521.31000000</valUSD>
        <pctVal>1.264277641481</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>HNI Corp</name>
        <lei>549300SKRADLC4O5HV93</lei>
        <title>HNI Corporation </title>
        <cusip>404251100</cusip>
        <identifiers>
          <isin value="US4042511000"/>
        </identifiers>
        <balance>134222.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4481672.58000000</valUSD>
        <pctVal>1.305090551158</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>Hackett Group Inc.</name>
        <lei>5K016KLIRB6156644289</lei>
        <title>Hackett Group, Inc. (The) </title>
        <cusip>404609109</cusip>
        <identifiers>
          <isin value="US4046091090"/>
        </identifiers>
        <balance>344568.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4482829.68000000</valUSD>
        <pctVal>1.305427505777</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>Hamilton Lane Inc</name>
        <lei>5493006OKN3V1NORM833</lei>
        <title>Hamilton Lane, Inc. </title>
        <cusip>407497106</cusip>
        <identifiers>
          <isin value="US4074971064"/>
        </identifiers>
        <balance>52581.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5226551.40000000</valUSD>
        <pctVal>1.522003833507</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>The Hanover Insurance Group, Inc.</name>
        <lei>JJYR6MFKFF6CF8DBZ078</lei>
        <title>Hanover Insurance Group, Inc. (The) </title>
        <cusip>410867105</cusip>
        <identifiers>
          <isin value="US4108671052"/>
        </identifiers>
        <balance>35859.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6216157.65000000</valUSD>
        <pctVal>1.810183244918</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>Hexcel Corporation</name>
        <lei>S6Q7LW43WUBUHXY2QP69</lei>
        <title>Hexcel Corporation </title>
        <cusip>428291108</cusip>
        <identifiers>
          <isin value="US4282911084"/>
        </identifiers>
        <balance>67899.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5495066.07000000</valUSD>
        <pctVal>1.600196952796</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>Independence Realty Trust Inc</name>
        <lei>549300Z3L8NU44NQEB29</lei>
        <title>Independence Realty Trust, Inc. </title>
        <cusip>45378A106</cusip>
        <identifiers>
          <isin value="US45378A1060"/>
        </identifiers>
        <balance>437405.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6512960.45000000</valUSD>
        <pctVal>1.896614041216</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>Information Services Group Inc.</name>
        <lei>549300ZUNI6DQ0G8Q273</lei>
        <title>Information Services Group, Inc. </title>
        <cusip>45675Y104</cusip>
        <identifiers>
          <isin value="US45675Y1047"/>
        </identifiers>
        <balance>669683.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2571582.72000000</valUSD>
        <pctVal>0.748860665183</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>Interparfums Inc</name>
        <lei>N/A</lei>
        <title>Interparfums, Inc. </title>
        <cusip>458334109</cusip>
        <identifiers>
          <isin value="US4583341098"/>
        </identifiers>
        <balance>42522.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3862698.48000000</valUSD>
        <pctVal>1.124841495721</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>J&amp;J Snack Foods Corp</name>
        <lei>894500IGP1Y2ZQFQMJ83</lei>
        <title>J &amp; J Snack Foods Corporation </title>
        <cusip>466032109</cusip>
        <identifiers>
          <isin value="US4660321096"/>
        </identifiers>
        <balance>37990.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3011467.30000000</valUSD>
        <pctVal>0.876957753650</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>LandBridge Company LLC</name>
        <lei>529900P7NBGGY6C0SF08</lei>
        <title>Landbridge Company, LLC </title>
        <cusip>514952100</cusip>
        <identifiers>
          <isin value="US5149521008"/>
        </identifiers>
        <balance>71463.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4934520.15000000</valUSD>
        <pctVal>1.436962541843</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>Landstar System Inc.</name>
        <lei>254900CUQXQRL09MEI52</lei>
        <title>Landstar System, Inc. </title>
        <cusip>515098101</cusip>
        <identifiers>
          <isin value="US5150981018"/>
        </identifiers>
        <balance>26918.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4315224.58000000</valUSD>
        <pctVal>1.256619872370</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>Lazard Inc</name>
        <lei>254900RIBCDJSUFG1A11</lei>
        <title>LAZARD INC </title>
        <cusip>52110M109</cusip>
        <identifiers>
          <isin value="US52110M1099"/>
        </identifiers>
        <balance>119281.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5067056.88000000</valUSD>
        <pctVal>1.475558050755</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>Lemaitre Vascular Inc.</name>
        <lei>549300FZUBUB7MHY8R17</lei>
        <title>LeMaitre Vascular, Inc. </title>
        <cusip>525558201</cusip>
        <identifiers>
          <isin value="US5255582018"/>
        </identifiers>
        <balance>76246.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8323775.82000000</valUSD>
        <pctVal>2.423934586636</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>Littelfuse Inc.</name>
        <lei>549300MY7HLQFYTPCX75</lei>
        <title>Littelfuse, Inc. </title>
        <cusip>537008104</cusip>
        <identifiers>
          <isin value="US5370081045"/>
        </identifiers>
        <balance>23902.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8111143.70000000</valUSD>
        <pctVal>2.362014808756</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>MSC Industrial Direct Co Inc.</name>
        <lei>0XVKH0LN6YGOWO2EGO17</lei>
        <title>MSC Industrial Direct Company, Inc. </title>
        <cusip>553530106</cusip>
        <identifiers>
          <isin value="US5535301064"/>
        </identifiers>
        <balance>44202.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4078518.54000000</valUSD>
        <pctVal>1.187689621288</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>ManpowerGroup Inc.</name>
        <lei>ERO1WSFOSR0JJ6CRQ987</lei>
        <title>ManpowerGroup, Inc. </title>
        <cusip>56418H100</cusip>
        <identifiers>
          <isin value="US56418H1005"/>
        </identifiers>
        <balance>76523.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2254367.58000000</valUSD>
        <pctVal>0.656485670244</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>Mesa Laboratories Inc.</name>
        <lei>549300ZCG738WLX8ZW79</lei>
        <title>Mesa Laboratories, Inc. </title>
        <cusip>59064R109</cusip>
        <identifiers>
          <isin value="US59064R1095"/>
        </identifiers>
        <balance>65070.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5753489.40000000</valUSD>
        <pctVal>1.675451411965</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>Monarch Casino &amp; Resort Inc</name>
        <lei>549300AK5FF7KY11V997</lei>
        <title>Monarch Casino &amp; Resort, Inc. </title>
        <cusip>609027107</cusip>
        <identifiers>
          <isin value="US6090271072"/>
        </identifiers>
        <balance>39231.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3750483.60000000</valUSD>
        <pctVal>1.092163834207</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>Money Market Obligations Trust</name>
        <lei>25490005VWJDWX717014</lei>
        <title>Federated Hermes Treasury Oligations Fund </title>
        <cusip>60934N500</cusip>
        <identifiers>
          <isin value="US60934N5005"/>
        </identifiers>
        <balance>8515544.55000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8515544.55000000</valUSD>
        <pctVal>2.479778817347</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Monro Inc</name>
        <lei>N/A</lei>
        <title>Monro, Inc. </title>
        <cusip>610236101</cusip>
        <identifiers>
          <isin value="US6102361010"/>
        </identifiers>
        <balance>239221.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3837104.84000000</valUSD>
        <pctVal>1.117388470732</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>Moog Inc.</name>
        <lei>549300WM2I4U7OBAHG07</lei>
        <title>Moog, Inc. </title>
        <cusip>615394202</cusip>
        <identifiers>
          <isin value="US6153942023"/>
        </identifiers>
        <balance>27395.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8016872.80000000</valUSD>
        <pctVal>2.334562544307</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>Mueller Water Products, Inc.</name>
        <lei>549300F7ZU4P1F8V8L60</lei>
        <title>Mueller Water Products, Inc. </title>
        <cusip>624758108</cusip>
        <identifiers>
          <isin value="US6247581084"/>
        </identifiers>
        <balance>264964.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7283860.36000000</valUSD>
        <pctVal>2.121104824617</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>NAPCO Security Technologies Inc.</name>
        <lei>529900KV21J4YY9YST76</lei>
        <title>Napco Security Technologies, Inc. </title>
        <cusip>630402105</cusip>
        <identifiers>
          <isin value="US6304021057"/>
        </identifiers>
        <balance>105588.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4159111.32000000</valUSD>
        <pctVal>1.211158733275</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>Old Republic International Corporation</name>
        <lei>549300IV6O2YY2A1KH37</lei>
        <title>Old Republic International Corporation </title>
        <cusip>680223104</cusip>
        <identifiers>
          <isin value="US6802231042"/>
        </identifiers>
        <balance>151808.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6057139.20000000</valUSD>
        <pctVal>1.763876096671</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>Pegasystems Inc</name>
        <lei>549300FMCOKPL06FYN26</lei>
        <title>Pegasystems, Inc. </title>
        <cusip>705573103</cusip>
        <identifiers>
          <isin value="US7055731035"/>
        </identifiers>
        <balance>153946.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6551941.76000000</valUSD>
        <pctVal>1.907965637845</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>Phibro Animal Health Corporation</name>
        <lei>549300U24SP4AF2JUX52</lei>
        <title>Phibro Animal Health Corporation </title>
        <cusip>71742Q106</cusip>
        <identifiers>
          <isin value="US71742Q1067"/>
        </identifiers>
        <balance>128277.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7095000.87000000</valUSD>
        <pctVal>2.066107782442</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>Piper Sandler Companies</name>
        <lei>QUQDBTUSOAKFEVMRMF78</lei>
        <title>Piper Sandler Cos </title>
        <cusip>724078209</cusip>
        <identifiers>
          <isin value="US7240782091"/>
        </identifiers>
        <balance>47448.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3632144.40000000</valUSD>
        <pctVal>1.057702733135</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>Power Integrations Inc.</name>
        <lei>54930085LGXSCIHD5W31</lei>
        <title>Power Integrations, Inc. </title>
        <cusip>739276103</cusip>
        <identifiers>
          <isin value="US7392761034"/>
        </identifiers>
        <balance>141999.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7270348.80000000</valUSD>
        <pctVal>2.117170175449</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>Ralliant Corp.</name>
        <lei>52990024QKO4DYT8N464</lei>
        <title>Ralliant Corporation </title>
        <cusip>750940108</cusip>
        <identifiers>
          <isin value="US7509401086"/>
        </identifiers>
        <balance>81100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3372949.00000000</valUSD>
        <pctVal>0.982223442445</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>Rocky Brands Inc.</name>
        <lei>5299004HQ6GCTW838N96</lei>
        <title>Rocky Brands, Inc. </title>
        <cusip>774515100</cusip>
        <identifiers>
          <isin value="US7745151008"/>
        </identifiers>
        <balance>115169.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4459343.68000000</valUSD>
        <pctVal>1.298588238486</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>The Scotts Miracle-Gro Company</name>
        <lei>2TH9E0JTOUXOEGI2R879</lei>
        <title>Scotts Miracle-Gro Company (The) </title>
        <cusip>810186106</cusip>
        <identifiers>
          <isin value="US8101861065"/>
        </identifiers>
        <balance>61100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3715491.00000000</valUSD>
        <pctVal>1.081973774401</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>Shoe Carnival Inc</name>
        <lei>N/A</lei>
        <title>Shoe Carnival, Inc. </title>
        <cusip>824889109</cusip>
        <identifiers>
          <isin value="US8248891090"/>
        </identifiers>
        <balance>150124.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2340433.16000000</valUSD>
        <pctVal>0.681548495167</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>Southstate Bank Corp.</name>
        <lei>N/A</lei>
        <title>SOUTHSTATE BANK CORP </title>
        <cusip>84472E102</cusip>
        <identifiers>
          <isin value="US84472E1029"/>
        </identifiers>
        <balance>60362.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5584692.24000000</valUSD>
        <pctVal>1.626296643373</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>STAG Industrial, Inc.</name>
        <lei>549300QWYX2W6FASVQ07</lei>
        <title>STAG Industrial, Inc. </title>
        <cusip>85254J102</cusip>
        <identifiers>
          <isin value="US85254J1025"/>
        </identifiers>
        <balance>129778.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4679794.68000000</valUSD>
        <pctVal>1.362784922192</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>Standex International Corp</name>
        <lei>RCX52GR0JW2LRRMH9Z54</lei>
        <title>Standex International Corporation </title>
        <cusip>854231107</cusip>
        <identifiers>
          <isin value="US8542311076"/>
        </identifiers>
        <balance>33612.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8566354.32000000</valUSD>
        <pctVal>2.494574934099</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>Stock Yards Bancorp Inc.</name>
        <lei>549300YERP9H5TDIQW16</lei>
        <title>Stock Yards Bancorp, Inc. </title>
        <cusip>861025104</cusip>
        <identifiers>
          <isin value="US8610251048"/>
        </identifiers>
        <balance>82982.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5500876.78000000</valUSD>
        <pctVal>1.601889067198</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>Terreno Realty Corporation</name>
        <lei>N/A</lei>
        <title>Terreno Realty Corporation </title>
        <cusip>88146M101</cusip>
        <identifiers>
          <isin value="US88146M1018"/>
        </identifiers>
        <balance>111050.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6820691.00000000</valUSD>
        <pctVal>1.986227065358</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>TriCo Bancshares</name>
        <lei>N/A</lei>
        <title>TriCompany Bancshares </title>
        <cusip>896095106</cusip>
        <identifiers>
          <isin value="US8960951064"/>
        </identifiers>
        <balance>110047.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5231634.38000000</valUSD>
        <pctVal>1.523484028468</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>Turning Point Brands Inc</name>
        <lei>549300IYG00QF0VVP302</lei>
        <title>Turning Point Brands, Inc. </title>
        <cusip>90041L105</cusip>
        <identifiers>
          <isin value="US90041L1052"/>
        </identifiers>
        <balance>45355.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3936360.45000000</valUSD>
        <pctVal>1.146292313314</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>US Physical Therapy Inc</name>
        <lei>529900KL1UXQYFIOMY96</lei>
        <title>US Physical Therapy, Inc. </title>
        <cusip>90337L108</cusip>
        <identifiers>
          <isin value="US90337L1089"/>
        </identifiers>
        <balance>92445.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6929677.20000000</valUSD>
        <pctVal>2.017964515448</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"/>
        </identifiers>
        <balance>15298.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6112621.86000000</valUSD>
        <pctVal>1.780032987659</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>WD-40 Co.</name>
        <lei>549300UZHTN0CNKBOB19</lei>
        <title>WD-40 Company </title>
        <cusip>929236107</cusip>
        <identifiers>
          <isin value="US9292361071"/>
        </identifiers>
        <balance>16150.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3293631.00000000</valUSD>
        <pctVal>0.959125554214</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>WSFS Financial Corporation</name>
        <lei>549300SU7VQHD6QRG886</lei>
        <title>WSFS Financial Corporation </title>
        <cusip>929328102</cusip>
        <identifiers>
          <isin value="US9293281021"/>
        </identifiers>
        <balance>84593.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5537457.78000000</valUSD>
        <pctVal>1.612541678829</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>Walker &amp; Dunlop Inc.</name>
        <lei>N/A</lei>
        <title>Walker &amp; Dunlop, Inc. </title>
        <cusip>93148P102</cusip>
        <identifiers>
          <isin value="US93148P1021"/>
        </identifiers>
        <balance>90068.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3997217.84000000</valUSD>
        <pctVal>1.164014358653</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>2026-03-31</ncom:dateSigned>
      <ncom:nameOfApplicant>Unified Series Trust</ncom:nameOfApplicant>
      <ncom:signature>Zachary Richmond</ncom:signature>
      <ncom:signerName>Zachary Richmond</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
