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        <name>Brookfield Corp</name>
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        <name>Novonesis (Novozymes) B</name>
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      <invstOrSec>
        <name>Vertex Pharmaceuticals Inc</name>
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        <name>Backblaze Inc</name>
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        <name>Axalta Coating Systems Ltd</name>
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        <name>Shikoku Electric Power Co Inc</name>
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        <name>Hess Corp</name>
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        <name>Evergy Inc</name>
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        <name>Arlo Technologies Inc</name>
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        <name>Take-Two Interactive Software</name>
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        <name>FTAI Aviation Ltd</name>
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        <name>TREASURY BILL</name>
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        <name>BANK OF AMERICA CORP</name>
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        <name>Timken Co/The</name>
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        <name>Vestis Corp</name>
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        <name>Hain Celestial Group Inc/The</name>
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        <name>Equinor ASA</name>
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        <name>MGM Resorts International</name>
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        <name>Abbott Laboratories</name>
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        <name>Telstra Group Ltd</name>
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        <name>SkyWater Technology Inc</name>
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        <name>Edgio Inc</name>
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        <title>Edgio Inc</title>
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        <name>United Rentals Inc</name>
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      <invstOrSec>
        <name>JCDecaux SE</name>
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      <invstOrSec>
        <name>Brooks Macdonald Group PLC</name>
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      <invstOrSec>
        <name>Spirit AeroSystems Holdings In</name>
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      <invstOrSec>
        <name>ICU Medical Inc</name>
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      <invstOrSec>
        <name>Builders FirstSource Inc</name>
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      <invstOrSec>
        <name>Las Vegas Sands Corp</name>
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        <name>LIBERTY BROADBAND CORP</name>
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        <name>Johnson &amp; Johnson</name>
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      <invstOrSec>
        <name>Jardine Matheson Holdings Ltd</name>
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        <name>Woodward Inc</name>
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        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
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          <isin value="US912797KA41"/>
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        <name>ATHENE HOLDING LTD</name>
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        <name>Agilent Technologies Inc</name>
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        <name>Oracle Corp</name>
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        <name>National Beverage Corp</name>
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        <name>BAE Systems PLC</name>
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        <name>GE Vernova Inc</name>
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        <name>TREASURY BILL</name>
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        <name>Orange SA</name>
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        <name>Flowserve Corp</name>
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        <name>TXNM Energy Inc</name>
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        <name>TRUIST FINANCIAL CORP</name>
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        <title>Truist Financial Corp</title>
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      <invstOrSec>
        <name>AT&amp;T INC</name>
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        <assetCat>EP</assetCat>
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      <invstOrSec>
        <name>Teradyne Inc</name>
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      <invstOrSec>
        <name>Pharol SGPS SA</name>
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      <invstOrSec>
        <name>Fortune Brands Innovations Inc</name>
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        <name>Broadcom Inc</name>
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      <invstOrSec>
        <name>Sally Beauty Holdings Inc</name>
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          <isCashCollateral>N</isCashCollateral>
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        <name>First Citizens BancShares Inc/</name>
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        <name>Rogers Corp</name>
        <lei>PW0CN80KNFR7RUOOKJ84</lei>
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        <name>Halozyme Therapeutics Inc</name>
        <lei>529900242I3SV9AGM753</lei>
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        <name>KeyCorp</name>
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        <name>Paysafe Ltd</name>
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        <name>Apollo Global Management Inc</name>
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        <name>TSMC</name>
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        <name>TREASURY BILL</name>
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        <name>Evolent Health Inc</name>
        <lei>549300CZOCFHQ2BBTR11</lei>
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        <name>Air Products and Chemicals Inc</name>
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        <name>NextEra Energy Inc</name>
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        <name>Scotts Miracle-Gro Co/The</name>
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        <name>Integer Holdings Corp</name>
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        <name>Intuit Inc</name>
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        <name>Freeport-McMoRan Inc</name>
        <lei>549300IRDTHJQ1PVET45</lei>
        <title>Freeport-McMoRan Inc</title>
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        <name>Canadian Pacific Kansas City L</name>
        <lei>N/A</lei>
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        <name>DR Horton Inc</name>
        <lei>529900ZIUEYVSB8QDD25</lei>
        <title>DR Horton Inc</title>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GE HealthCare Technologies Inc</name>
        <lei>549300OI9J7XOWZMUN85</lei>
        <title>GE HealthCare Technologies Inc</title>
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          <isin value="US36266G1076"/>
          <ticker value="GEHC"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Loomis AB</name>
        <lei>213800NS2XXVRYS7WP40</lei>
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          <isin value="SE0014504817"/>
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          <other otherDesc="SEDOL" value="BMVB566"/>
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        <balance>11000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LPL Financial Holdings Inc</name>
        <lei>549300XROQ4Y8G2L7682</lei>
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        <cusip>50212V100</cusip>
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          <isin value="US50212V1008"/>
          <ticker value="LPLA"/>
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        <balance>500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>163255.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Daimler Truck Holding AG</name>
        <lei>529900PW78JIYOUBSR24</lei>
        <title>Daimler Truck Holding AG</title>
        <cusip>000000000</cusip>
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          <isin value="DE000DTR0CK8"/>
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        <balance>15000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NextEra Energy Partners LP</name>
        <lei>5493008F4ZOQFNG3WN54</lei>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Conagra Brands Inc</name>
        <lei>54930035UDEIH090K650</lei>
        <title>Conagra Brands Inc</title>
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          <isin value="US2058871029"/>
          <ticker value="CAG"/>
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        <curCd>USD</curCd>
        <valUSD>1276500.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Interactive Brokers Group Inc</name>
        <lei>5493004DT6DCDUZNDM53</lei>
        <title>Interactive Brokers Group Inc</title>
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          <isin value="US45841N1072"/>
          <ticker value="IBKR"/>
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        <balance>11400.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2014038.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Amgen Inc</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
        <title>Amgen Inc</title>
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        <curCd>USD</curCd>
        <valUSD>781920.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Electric Power Development Co</name>
        <lei>549300KMHPUAQI8VEH90</lei>
        <title>Electric Power Development Co Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="JP3551200003"/>
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        <balance>29000.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="157.34500000"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Verizon Communications Inc</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
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          <isin value="US92343V1044"/>
          <ticker value="VZ"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>National Fuel Gas Co</name>
        <lei>8JB38FFW1Y3C1HM8E841</lei>
        <title>National Fuel Gas Co</title>
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          <isin value="US6361801011"/>
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        <valUSD>14896940.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sunrise Communications AG/old</name>
        <lei>529900N9U6KXXOUJT875</lei>
        <title>Sunrise Communications AG/old</title>
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          <ticker value="SNRE"/>
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        <balance>94400.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4066752.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
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        <name>Post Holdings Inc</name>
        <lei>JM1I5YUAURL6DC8N1468</lei>
        <title>Post Holdings Inc</title>
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        <balance>42000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4807320.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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        <name>TotalEnergies SE</name>
        <lei>529900S21EQ1BO4ESM68</lei>
        <title>TotalEnergies SE</title>
        <cusip>89151E109</cusip>
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          <ticker value="TTE"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>FR</invCountry>
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        <name>L3Harris Technologies Inc</name>
        <lei>549300UTE50ZMDBG8A20</lei>
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        <assetCat>EC</assetCat>
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        <name>AstraZeneca PLC</name>
        <lei>PY6ZZQWO2IZFZC3IOL08</lei>
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          <isin value="US0463531089"/>
          <ticker value="AZN"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <name>Masterbrand Inc</name>
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        <title>Masterbrand Inc</title>
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        <name>Proximus SADP</name>
        <lei>549300CWRXC5EP004533</lei>
        <title>Proximus SADP</title>
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        <name>Molson Coors Beverage Co</name>
        <lei>54930073LBBH6ZCBE225</lei>
        <title>Molson Coors Beverage Co</title>
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        <name>Portland General Electric Co</name>
        <lei>GJOUP9M7C39GLSK9R870</lei>
        <title>Portland General Electric Co</title>
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        <name>S&amp;P Global Inc</name>
        <lei>Y6X4K52KMJMZE7I7MY94</lei>
        <title>S&amp;P Global Inc</title>
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          <ticker value="SPGI"/>
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        <name>Labcorp Holdings Inc</name>
        <lei>N/A</lei>
        <title>Labcorp Holdings Inc</title>
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          <ticker value="LH"/>
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        <curCd>USD</curCd>
        <valUSD>5549544.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill</title>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2459886.93000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-22</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Pentair PLC</name>
        <lei>549300EVR9D56WPSRP15</lei>
        <title>Pentair PLC</title>
        <cusip>000000000</cusip>
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          <isin value="IE00BLS09M33"/>
          <ticker value="PNR"/>
          <other otherDesc="SEDOL" value="BLS09M3"/>
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        <balance>14500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1459280.00000000</valUSD>
        <pctVal>0.059207118103</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Charles Schwab Corp/The</name>
        <lei>549300VSGCJ7E698NM85</lei>
        <title>Charles Schwab Corp/The</title>
        <cusip>808513105</cusip>
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          <isin value="US8085131055"/>
          <ticker value="SCHW"/>
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        <balance>35500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2627355.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill</title>
        <cusip>912797MT1</cusip>
        <identifiers>
          <isin value="US912797MT14"/>
          <other otherDesc="SEDOL" value="BP4YGQ0"/>
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        <balance>14830000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14709609.17000000</valUSD>
        <pctVal>0.596810459527</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-13</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Park Aerospace Corp</name>
        <lei>5299004AG0G7IB636095</lei>
        <title>Park Aerospace Corp</title>
        <cusip>70014A104</cusip>
        <identifiers>
          <isin value="US70014A1043"/>
          <ticker value="PKE"/>
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        <balance>10000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>146500.00000000</valUSD>
        <pctVal>0.005943919468</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sphere Entertainment Co</name>
        <lei>254900ZW4JWKYRZZ9A91</lei>
        <title>Sphere Entertainment Co</title>
        <cusip>55826T102</cusip>
        <identifiers>
          <isin value="US55826T1025"/>
          <ticker value="SPHR"/>
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        <balance>41880.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1688601.60000000</valUSD>
        <pctVal>0.068511344197</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>York Water Co/The</name>
        <lei>N/A</lei>
        <title>York Water Co/The</title>
        <cusip>987184108</cusip>
        <identifiers>
          <isin value="US9871841089"/>
          <ticker value="YORW"/>
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        <balance>7500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>245400.00000000</valUSD>
        <pctVal>0.009956572270</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DuPont de Nemours Inc</name>
        <lei>5493004JF0SDFLM8GD76</lei>
        <title>DuPont de Nemours Inc</title>
        <cusip>26614N102</cusip>
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          <isin value="US26614N1028"/>
          <ticker value="DD"/>
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        <balance>200000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15250000.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DENTSPLY SIRONA Inc</name>
        <lei>9NHEHR1SOZCYXDO8HO28</lei>
        <title>DENTSPLY SIRONA Inc</title>
        <cusip>24906P109</cusip>
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          <isin value="US24906P1093"/>
          <ticker value="XRAY"/>
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        <balance>30000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>569400.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SLM Corp</name>
        <lei>N/A</lei>
        <title>SLM Corp</title>
        <cusip>78442P106</cusip>
        <identifiers>
          <isin value="US78442P1066"/>
          <ticker value="SLM"/>
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        <balance>90000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2482200.00000000</valUSD>
        <pctVal>0.100709876483</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Kenvue Inc</name>
        <lei>5493008HSF8L4M2LIJ82</lei>
        <title>Kenvue Inc</title>
        <cusip>49177J102</cusip>
        <identifiers>
          <isin value="US49177J1025"/>
          <ticker value="KVUE"/>
        </identifiers>
        <balance>3735.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>79742.25000000</valUSD>
        <pctVal>0.003235368684</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Oaktree Specialty Lending Corp</name>
        <lei>549300J6MGCEU5928620</lei>
        <title>Oaktree Specialty Lending Corp</title>
        <cusip>67401P405</cusip>
        <identifiers>
          <isin value="US67401P4054"/>
          <ticker value="OCSL"/>
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        <balance>184299.59646300</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2816097.83000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SJW Group</name>
        <lei>N/A</lei>
        <title>SJW Group</title>
        <cusip>784305104</cusip>
        <identifiers>
          <isin value="US7843051043"/>
          <ticker value="SJW"/>
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        <balance>22000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1082840.00000000</valUSD>
        <pctVal>0.043933882302</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AT&amp;T Inc</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T Inc</title>
        <cusip>00206R102</cusip>
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          <isin value="US00206R1023"/>
          <ticker value="T"/>
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        <balance>29000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>660330.00000000</valUSD>
        <pctVal>0.026791456264</pctVal>
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        <assetCat>EC</assetCat>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Northwestern Energy Group Inc</name>
        <lei>254900N1WG46G1VMDM34</lei>
        <title>Northwestern Energy Group Inc</title>
        <cusip>668074305</cusip>
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          <isin value="US6680743050"/>
          <ticker value="NWE"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>534600.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>GLOBALFOUNDRIES Inc</name>
        <lei>549300BA76VK784VMX48</lei>
        <title>GLOBALFOUNDRIES Inc</title>
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          <isin value="KYG393871085"/>
          <ticker value="GFS"/>
          <other otherDesc="SEDOL" value="BMW7F63"/>
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        <balance>5500.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <name>Fox Corp</name>
        <lei>549300DDU6FDRBIELS05</lei>
        <title>Fox Corp</title>
        <cusip>35137L204</cusip>
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          <isin value="US35137L2043"/>
          <ticker value="FOX"/>
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        <balance>71000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3247540.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mastercard Inc</name>
        <lei>AR5L2ODV9HN37376R084</lei>
        <title>Mastercard Inc</title>
        <cusip>57636Q104</cusip>
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          <isin value="US57636Q1040"/>
          <ticker value="MA"/>
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        <balance>136900.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>72087433.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <name>Trinity Industries Inc</name>
        <lei>R1JB4KXN77XFCXOQKV49</lei>
        <title>Trinity Industries Inc</title>
        <cusip>896522109</cusip>
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          <isin value="US8965221091"/>
          <ticker value="TRN"/>
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        <balance>36000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1263600.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SuRo Capital Corp</name>
        <lei>549300YR4IAV0VJFWN84</lei>
        <title>SuRo Capital Corp</title>
        <cusip>86887Q109</cusip>
        <identifiers>
          <isin value="US86887Q1094"/>
          <ticker value="SSSS"/>
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        <balance>132000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>776160.00000000</valUSD>
        <pctVal>0.031491007063</pctVal>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Barnes Group Inc</name>
        <lei>G1MSYD2DQZX30V5DMX12</lei>
        <title>Barnes Group Inc</title>
        <cusip>067806109</cusip>
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          <isin value="US0678061096"/>
          <ticker value="B"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>945200.00000000</valUSD>
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        <name>ENBRIDGE INC</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>Enbridge Inc</title>
        <cusip>29250N865</cusip>
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          <ticker value="ENBCN"/>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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        <name>Kansai Electric Power Co Inc/T</name>
        <lei>353800PFUKP5ONPJNZ86</lei>
        <title>Kansai Electric Power Co Inc/The</title>
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          <ticker value="9503"/>
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      <invstOrSec>
        <name>International Game Technology</name>
        <lei>549300UQ6KHRCZDRGZ76</lei>
        <title>International Game Technology PLC</title>
        <cusip>000000000</cusip>
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          <ticker value="IGT"/>
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      <invstOrSec>
        <name>Boston Scientific Corp</name>
        <lei>Y6ZDD9FP4P8JSSJMW954</lei>
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      <invstOrSec>
        <name>Herc Holdings Inc</name>
        <lei>549300TP80QLITMSBP82</lei>
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      <invstOrSec>
        <name>Flutter Entertainment PLC</name>
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        <assetCat>EC</assetCat>
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        <name>TREASURY BILL</name>
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          <isin value="US912797JR94"/>
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      <invstOrSec>
        <name>Sumitomo Corp</name>
        <lei>V82KK8NH1P0JS71FJC05</lei>
        <title>Sumitomo Corp</title>
        <cusip>000000000</cusip>
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          <isin value="JP3404600003"/>
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        <isRestrictedSec>N</isRestrictedSec>
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      <invstOrSec>
        <name>W R Berkley Corp</name>
        <lei>SQOAGCLKBDWNVYV1OV80</lei>
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        <cusip>084423102</cusip>
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          <isin value="US0844231029"/>
          <ticker value="WRB"/>
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        <balance>92750.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RXO Inc</name>
        <lei>549300KL8CA6GP8XPM30</lei>
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          <isin value="US74982T1034"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Xerox Holdings Corp</name>
        <lei>5493000Y33XDVO2CXC18</lei>
        <title>Xerox Holdings Corp</title>
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          <isin value="US98421M1062"/>
          <ticker value="XRX"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Nomad Foods Ltd</name>
        <lei>5493000ZZ1837DS2SI43</lei>
        <title>Nomad Foods Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="VGG6564A1057"/>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wyndham Hotels &amp; Resorts Inc</name>
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        <invCountry>US</invCountry>
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        <name>Lantheus Holdings Inc</name>
        <lei>5299005HUB5IOJGO7S39</lei>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Halliburton Co</name>
        <lei>ENYF8GB5SMQZ25S06U51</lei>
        <title>Halliburton Co</title>
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        <name>Sensient Technologies Corp</name>
        <lei>CMMZHMFZQG86EI7WZU92</lei>
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        <name>BOEING CO/THE</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>Boeing Co/The</title>
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        <name>Paramount Global</name>
        <lei>5KYC8KF17ROCY24M3H09</lei>
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        <name>Alibaba Group Holding Ltd</name>
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        <name>General Mills Inc</name>
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        <name>Universal Music Group NV</name>
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        <name>TREASURY BILL</name>
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        <name>Canal+ France SA</name>
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        <title>Canal+ France SA</title>
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        <name>Petroleo Brasileiro SA</name>
        <lei>5493000J801JZRCMFE49</lei>
        <title>Petroleo Brasileiro SA</title>
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      <invstOrSec>
        <name>Fortinet Inc</name>
        <lei>549300O0QJWDBAS0QX03</lei>
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      <invstOrSec>
        <name>Amazon.com Inc</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>Amazon.com Inc</title>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Rentokil Initial PLC</name>
        <lei>549300VN4WV7Z6T14K68</lei>
        <title>Rentokil Initial PLC</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill</title>
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        <name>Penske Automotive Group Inc</name>
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        <name>Pinnacle West Capital Corp</name>
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        <name>Simply Good Foods Co/The</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill</title>
        <cusip>912797LX3</cusip>
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          <isin value="US912797LX35"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Eni SpA</name>
        <lei>BUCRF72VH5RBN7X3VL35</lei>
        <title>Eni SpA</title>
        <cusip>26874R108</cusip>
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          <isin value="US26874R1086"/>
          <ticker value="E"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IT</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chipotle Mexican Grill Inc</name>
        <lei>N/A</lei>
        <title>Chipotle Mexican Grill Inc</title>
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          <isin value="US1696561059"/>
          <ticker value="CMG"/>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Public Service Enterprise Grou</name>
        <lei>PUSS41EMO3E6XXNV3U28</lei>
        <title>Public Service Enterprise Group Inc</title>
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          <isin value="US7445731067"/>
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      <invstOrSec>
        <name>Haleon PLC</name>
        <lei>549300PSB3WWEODCUP19</lei>
        <title>Haleon PLC</title>
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        <issuerCat>CORP</issuerCat>
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        <name>Tenet Healthcare Corp</name>
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        <name>Ingles Markets Inc</name>
        <lei>549300XH5RYBMYP8TF26</lei>
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        <name>NEXTERA ENERGY INC</name>
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        <title>NextEra Energy Inc</title>
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        <name>Thales SA</name>
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        <name>American Electric Power Co Inc</name>
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        <name>Albany International Corp</name>
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        <name>CHARLES SCHWAB CORP</name>
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        <name>Crane NXT Co</name>
        <lei>549300EXNPSXEWUD3N21</lei>
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        <name>Walmart Inc</name>
        <lei>Y87794H0US1R65VBXU25</lei>
        <title>Walmart Inc</title>
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        <name>United States Steel Corp</name>
        <lei>JNLUVFYJT1OZSIQ24U47</lei>
        <title>United States Steel Corp</title>
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          <ticker value="X"/>
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        <name>State Street Corp</name>
        <lei>549300ZFEEJ2IP5VME73</lei>
        <title>State Street Corp</title>
        <cusip>857477103</cusip>
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      <invstOrSec>
        <name>Dell Technologies Inc</name>
        <lei>549300TJB5YBRUPOG437</lei>
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      <invstOrSec>
        <name>Flutter Entertainment PLC</name>
        <lei>635400EG4YIJLJMZJ782</lei>
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        <issuerCat>CORP</issuerCat>
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      <invstOrSec>
        <name>Medtronic PLC</name>
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      <invstOrSec>
        <name>Oceaneering International Inc</name>
        <lei>549300L6PH74701W0R30</lei>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Agnico Eagle Mines Ltd</name>
        <lei>254900BFJ2DOHPMEXN45</lei>
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          <isin value="CA0084741085"/>
          <ticker value="AEM"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ASML Holding NV</name>
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          <isin value="USN070592100"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>NL</invCountry>
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      <invstOrSec>
        <name>METLIFE INC</name>
        <lei>C4BXATY60WC6XEOZDX54</lei>
        <title>MetLife Inc</title>
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          <isin value="US59156R5046"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>STIFEL FINANCIAL CORP</name>
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          <ticker value="SF"/>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CAPITAL ONE FINANCIAL CO</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
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          <other otherDesc="SEDOL" value="BMCQHF3"/>
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        <balance>1500000.00000000</balance>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>Ormat Technologies Inc</name>
        <lei>5493000TSHHWY24VHM09</lei>
        <title>Ormat Technologies Inc</title>
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        <curCd>USD</curCd>
        <valUSD>744920.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Griffon Corp</name>
        <lei>5493000C2SGNC7ZN3242</lei>
        <title>Griffon Corp</title>
        <cusip>398433102</cusip>
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          <isin value="US3984331021"/>
          <ticker value="GFF"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>BBB Foods Inc</name>
        <lei>N/A</lei>
        <title>BBB Foods Inc</title>
        <cusip>000000000</cusip>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>MX</invCountry>
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        <name>Sealed Air Corp</name>
        <lei>Q0M0CZB4YN6JZ65WXI09</lei>
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          <ticker value="SEE"/>
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      <invstOrSec>
        <name>Entain PLC</name>
        <lei>213800GNI3K45LQR8L28</lei>
        <title>Entain PLC</title>
        <cusip>000000000</cusip>
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          <isin value="IM00B5VQMV65"/>
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      <invstOrSec>
        <name>Flowers Foods Inc</name>
        <lei>7YNCQQNDK8FBM9BBTK25</lei>
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      <invstOrSec>
        <name>Madison Square Garden Entertai</name>
        <lei>N/A</lei>
        <title>Madison Square Garden Entertainment Corp</title>
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        <name>MKS Instruments Inc</name>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <name>Intel Corp</name>
        <lei>KNX4USFCNGPY45LOCE31</lei>
        <title>Intel Corp</title>
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        <name>XOMA ROYALTY CORP</name>
        <lei>549300U6ZVYFCWNBJ613</lei>
        <title>XOMA Royalty Corp</title>
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        <name>Pacific Biosciences of Califor</name>
        <lei>529900F1BWRE1M0KZN89</lei>
        <title>Pacific Biosciences of California Inc</title>
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        <name>Howmet Aerospace Inc</name>
        <lei>549300HO5WFZUT5N2T22</lei>
        <title>Howmet Aerospace Inc</title>
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        <name>Demant A/S</name>
        <lei>213800RM6L9LN78BVA56</lei>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>UnitedHealth Group Inc</name>
        <lei>549300GHBMY8T5GXDE41</lei>
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      <invstOrSec>
        <name>Xylem Inc/NY</name>
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      <invstOrSec>
        <name>Cogeco Inc</name>
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        <invCountry>CA</invCountry>
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      <invstOrSec>
        <name>Intevac Inc</name>
        <lei>N/A</lei>
        <title>Intevac Inc</title>
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          <isin value="US4611481080"/>
          <ticker value="IVAC"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Valmont Industries Inc</name>
        <lei>5493009ZGZJJ8F77JN08</lei>
        <title>Valmont Industries Inc</title>
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          <isin value="US9202531011"/>
          <ticker value="VMI"/>
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        <balance>28000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8586760.00000000</valUSD>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Siemens AG</name>
        <lei>W38RGI023J3WT1HWRP32</lei>
        <title>Siemens AG</title>
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          <isin value="DE0007236101"/>
          <ticker value="SIE"/>
          <other otherDesc="SEDOL" value="5727973"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>American International Group I</name>
        <lei>ODVCVCQG2BP6VHV36M30</lei>
        <title>American International Group Inc</title>
        <cusip>026874784</cusip>
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          <isin value="US0268747849"/>
          <ticker value="AIG"/>
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        <curCd>USD</curCd>
        <valUSD>4688320.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Moog Inc</name>
        <lei>549300WM2I4U7OBAHG07</lei>
        <title>Moog Inc</title>
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          <isin value="US6153942023"/>
          <ticker value="MOG/A"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Liberty Latin America Ltd</name>
        <lei>213800YWQHEAX7CAVO83</lei>
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        <cusip>000000000</cusip>
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          <isin value="BMG9001E1021"/>
          <ticker value="LILA"/>
          <other otherDesc="SEDOL" value="BD9Q3P5"/>
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        <balance>22000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>139920.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
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      <invstOrSec>
        <name>Microsoft Corp</name>
        <lei>INR2EJN1ERAN0W5ZP974</lei>
        <title>Microsoft Corp</title>
        <cusip>594918104</cusip>
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          <isin value="US5949181045"/>
          <ticker value="MSFT"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Ampco-Pittsburgh Corp</name>
        <lei>N/A</lei>
        <title>Ampco-Pittsburgh Corp</title>
        <cusip>032037103</cusip>
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          <isin value="US0320371034"/>
          <ticker value="AP"/>
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        <balance>240000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>501600.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Diageo PLC</name>
        <lei>213800ZVIELEA55JMJ32</lei>
        <title>Diageo PLC</title>
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          <isin value="GB0002374006"/>
          <ticker value="DGE"/>
          <other otherDesc="SEDOL" value="0237400"/>
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        <balance>6000.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JPMorgan Chase &amp; Co</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co</title>
        <cusip>46625H100</cusip>
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          <isin value="US46625H1005"/>
          <ticker value="JPM"/>
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        <balance>277700.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>66567467.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Otis Worldwide Corp</name>
        <lei>549300ZLBKR8VSU25153</lei>
        <title>Otis Worldwide Corp</title>
        <cusip>68902V107</cusip>
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          <isin value="US68902V1070"/>
          <ticker value="OTIS"/>
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        <balance>3500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>324135.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CarMax Inc</name>
        <lei>N/A</lei>
        <title>CarMax Inc</title>
        <cusip>143130102</cusip>
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          <ticker value="KMX"/>
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        <balance>45000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3679200.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <name>QUALCOMM Inc</name>
        <lei>H1J8DDZKZP6H7RWC0H53</lei>
        <title>QUALCOMM Inc</title>
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          <ticker value="QCOM"/>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Ardagh Group SA</name>
        <lei>6354006L1NWUUOPYX274</lei>
        <title>Ardagh Group SA</title>
        <cusip>000000000</cusip>
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          <ticker value="ARD"/>
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        <invCountry>LU</invCountry>

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      <invstOrSec>
        <name>Palantir Technologies Inc</name>
        <lei>549300UVN46B3BBDHO85</lei>
        <title>Palantir Technologies Inc</title>
        <cusip>69608A108</cusip>
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          <ticker value="PLTR"/>
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        <valUSD>1663860.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>SAP SE</name>
        <lei>529900D6BF99LW9R2E68</lei>
        <title>SAP SE</title>
        <cusip>803054204</cusip>
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          <isin value="US8030542042"/>
          <ticker value="SAP"/>
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        <balance>4500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1107945.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>DE</invCountry>
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        <name>HCA Healthcare Inc</name>
        <lei>529900PH4ZGUH2MNEU89</lei>
        <title>HCA Healthcare Inc</title>
        <cusip>40412C101</cusip>
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          <ticker value="HCA"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <name>QURATE RETAIL INC</name>
        <lei>549300PSXEKU4PHLCR04</lei>
        <title>Qurate Retail Inc</title>
        <cusip>74915M308</cusip>
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          <ticker value="QRTEA"/>
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        <valUSD>3566989.50000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Bank of New York Mellon Corp/T</name>
        <lei>WFLLPEPC7FZXENRZV188</lei>
        <title>Bank of New York Mellon Corp/The</title>
        <cusip>064058100</cusip>
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          <isin value="US0640581007"/>
          <ticker value="BK"/>
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        <balance>603000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>46328490.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Danone SA</name>
        <lei>969500KMUQ2B6CBAF162</lei>
        <title>Danone SA</title>
        <cusip>000000000</cusip>
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          <isin value="FR0000120644"/>
          <ticker value="BN"/>
          <other otherDesc="SEDOL" value="B1Y9TB3"/>
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      <invstOrSec>
        <name>Henry Schein Inc</name>
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      <invstOrSec>
        <name>GXO Logistics Inc</name>
        <lei>5493007CNWMXN78JRN66</lei>
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      <invstOrSec>
        <name>Weyerhaeuser Co</name>
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      <invstOrSec>
        <name>Vimeo Inc</name>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Coca-Cola Co/The</name>
        <lei>UWJKFUJFZ02DKWI3RY53</lei>
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          <isin value="US1912161007"/>
          <ticker value="KO"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Uber Technologies Inc</name>
        <lei>549300B2FTG34FILDR98</lei>
        <title>Uber Technologies Inc</title>
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          <isin value="US90353T1007"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>American Tower Corp</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>American Tower Corp</title>
        <cusip>03027X100</cusip>
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          <isin value="US03027X1000"/>
          <ticker value="AMT"/>
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        <curCd>USD</curCd>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Resona Holdings Inc</name>
        <lei>52990067JE75XZCYYT81</lei>
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          <isin value="JP3500610005"/>
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        <invCountry>JP</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NXP Semiconductors NV</name>
        <lei>724500M9BY5293JDF951</lei>
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          <other otherDesc="SEDOL" value="B505PN7"/>
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        <balance>3800.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>789830.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co</name>
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        <title>Wells Fargo &amp; Co</title>
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          <isin value="US9497461015"/>
          <ticker value="WFC"/>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Netflix Inc</name>
        <lei>549300Y7VHGU0I7CE873</lei>
        <title>Netflix Inc</title>
        <cusip>64110L106</cusip>
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          <isin value="US64110L1061"/>
          <ticker value="NFLX"/>
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        <curCd>USD</curCd>
        <valUSD>20856888.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>American States Water Co</name>
        <lei>529900L26LIS2V8PWM23</lei>
        <title>American States Water Co</title>
        <cusip>029899101</cusip>
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          <isin value="US0298991011"/>
          <ticker value="AWR"/>
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        <balance>11000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>854920.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <name>General Dynamics Corp</name>
        <lei>9C1X8XOOTYY2FNYTVH06</lei>
        <title>General Dynamics Corp</title>
        <cusip>369550108</cusip>
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          <isin value="US3695501086"/>
          <ticker value="GD"/>
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        <balance>4800.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1264752.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Chugoku Electric Power Co Inc/</name>
        <lei>353800MV866ELME96Q46</lei>
        <title>Chugoku Electric Power Co Inc/The</title>
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          <isin value="JP3522200009"/>
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        <invCountry>JP</invCountry>
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      <invstOrSec>
        <name>Hyster-Yale Inc</name>
        <lei>N/A</lei>
        <title>Hyster-Yale Inc</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Hawaiian Electric Industries I</name>
        <lei>JJ8FWOCWCV22X7GUPJ23</lei>
        <title>Hawaiian Electric Industries Inc</title>
        <cusip>419870100</cusip>
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          <isin value="US4198701009"/>
          <ticker value="HE"/>
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      <invstOrSec>
        <name>Teladoc Health Inc</name>
        <lei>549300I2PVFBC9MFAC61</lei>
        <title>Teladoc Health Inc</title>
        <cusip>87918A105</cusip>
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        <name>Thermo Fisher Scientific Inc</name>
        <lei>HCHV7422L5HDJZCRFL38</lei>
        <title>Thermo Fisher Scientific Inc</title>
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      <invstOrSec>
        <name>Spectrum Brands Holdings Inc</name>
        <lei>549300JM0MJETDD30O20</lei>
        <title>Spectrum Brands Holdings Inc</title>
        <cusip>84790A105</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <name>Telekom Austria AG</name>
        <lei>529900KCNFQU5OJH7L33</lei>
        <title>Telekom Austria AG</title>
        <cusip>000000000</cusip>
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          <ticker value="TKA"/>
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        <assetCat>EC</assetCat>
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        <invCountry>AT</invCountry>
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      <invstOrSec>
        <name>Northwest Natural Holding Co</name>
        <lei>254900PSJL6ZEC8FR782</lei>
        <title>Northwest Natural Holding Co</title>
        <cusip>66765N105</cusip>
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          <ticker value="NWN"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Fidelity National Information</name>
        <lei>6WQI0GK1PRFVBA061U48</lei>
        <title>Fidelity National Information Services Inc</title>
        <cusip>31620M106</cusip>
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          <ticker value="FIS"/>
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        <balance>2500.00000000</balance>
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        <valUSD>201925.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Hanesbrands Inc</name>
        <lei>GX5LWVWZLL5S4W1L2F20</lei>
        <title>Hanesbrands Inc</title>
        <cusip>410345102</cusip>
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          <ticker value="HBI"/>
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        <valUSD>773300.00000000</valUSD>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>Lowe's Cos Inc</name>
        <lei>WAFCR4OKGSC504WU3E95</lei>
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      <invstOrSec>
        <name>Korea Electric Power Corp</name>
        <lei>988400QG33WS7JEIV602</lei>
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      <invstOrSec>
        <name>Fidelity National Financial In</name>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Airbus SE</name>
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      <invstOrSec>
        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
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          <isin value="US912797MM60"/>
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        <assetCat>DBT</assetCat>
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      <invstOrSec>
        <name>Textron Inc</name>
        <lei>3PPKBHUG1HD6BO7RNR87</lei>
        <title>Textron Inc</title>
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          <isin value="US8832031012"/>
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        <name>Farmers &amp; Merchants Bank of Lo</name>
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        <title>Farmers &amp; Merchants Bank of Long Beach/Long Beach CA</title>
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        <name>Beacon Roofing Supply Inc</name>
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        <name>Sulzer AG</name>
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        <name>Smith &amp; Nephew PLC</name>
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        <name>Boston Beer Co Inc/The</name>
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        <name>Sinclair Inc</name>
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        <name>Chevron Corp</name>
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        <name>Keweenaw Land Association Ltd</name>
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        <name>Iberdrola SA</name>
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        <name>Toray Industries Inc</name>
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        <name>Estee Lauder Cos Inc/The</name>
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        <name>Pfizer Inc</name>
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        <name>OGE Energy Corp</name>
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        <name>Loews Corp</name>
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        <name>AZZ Inc</name>
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        <name>Dowlais Group PLC</name>
        <lei>213800XM8WOFLY6VPC92</lei>
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        <name>Unilever PLC</name>
        <lei>549300MKFYEKVRWML317</lei>
        <title>Unilever PLC</title>
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        <name>Comcast Corp</name>
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        <name>Alphabet Inc</name>
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        <name>Veolia Environnement SA</name>
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        <name>Proto Labs Inc</name>
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        <name>Graham Holdings Co</name>
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        <name>Garrett Motion Inc</name>
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        <name>Telesat Corp</name>
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        <name>Church &amp; Dwight Co Inc</name>
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        <name>HP Inc</name>
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        <name>Goldman Sachs Group Inc/The</name>
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        <name>Phillips 66</name>
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        <name>DISCOVER FINANCIAL SVS</name>
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        <name>Olin Corp</name>
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        <name>ITT Inc</name>
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        <name>Navient Corp</name>
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        <name>Cisco Systems Inc</name>
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        <name>Phinia Inc</name>
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        <name>Nathan's Famous Inc</name>
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        <name>Waste Connections Inc</name>
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        <name>Telefonica SA</name>
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        <name>FIFTH THIRD BANCORP</name>
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        <name>WESCO International Inc</name>
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        <name>National Australia Bank Ltd</name>
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        <name>Liberty Broadband Corp</name>
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        <name>Sirius XM Holdings Inc</name>
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        <name>Hershey Co/The</name>
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        <name>Grupo Televisa SAB</name>
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        <name>Carpenter Technology Corp</name>
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        <name>Liberty Latin America Ltd</name>
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        <name>Lamb Weston Holdings Inc</name>
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        <name>Louis Hachette Group</name>
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        <name>Cie de Saint-Gobain SA</name>
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        <name>Steel Partners Holdings LP</name>
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        <name>Mercury Systems Inc</name>
        <lei>549300P3B84SGK7HH679</lei>
        <title>Mercury Systems Inc</title>
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        <name>Fox Corp</name>
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        <name>DaVita Inc</name>
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        <name>Ducommun Inc</name>
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        <name>EL PASO ENERGY CAP TRST</name>
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        <name>China Mengniu Dairy Co Ltd</name>
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        <name>Remy Cointreau SA</name>
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        <name>PNC Financial Services Group I</name>
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        <name>Eurotelesites AG</name>
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        <name>DSM-Firmenich AG</name>
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        <name>Citigroup Inc</name>
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        <name>Hartford Financial Services Gr</name>
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        <name>Exxon Mobil Corp</name>
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        <name>BioMarin Pharmaceutical Inc</name>
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        <name>Schlumberger NV</name>
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        <name>WK Kellogg Co</name>
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        <name>Innovex International Inc</name>
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        <name>ARBOR REALTY TRUST INC</name>
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        <name>Walt Disney Co/The</name>
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        <name>Intuitive Surgical Inc</name>
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        <title>Intuitive Surgical Inc</title>
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        <name>Micron Technology Inc</name>
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        <name>United States Cellular Corp</name>
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        <name>BellRing Brands Inc</name>
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        <name>Telephone and Data Systems Inc</name>
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      <invstOrSec>
        <name>GOLDMAN SACHS GROUP INC</name>
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      <invstOrSec>
        <name>Incyte Corp</name>
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      <invstOrSec>
        <name>Cadre Holdings Inc</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Ajinomoto Co Inc</name>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Akamai Technologies Inc</name>
        <lei>OC1LZNN2LF5WTJ5RIL89</lei>
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          <isin value="US00971T1016"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Atlanta Braves Holdings Inc</name>
        <lei>N/A</lei>
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          <isin value="US0477263026"/>
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        <assetCat>EC</assetCat>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Energizer Holdings Inc</name>
        <lei>5493000D6NN0V57UME20</lei>
        <title>Energizer Holdings Inc</title>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CNH Industrial NV</name>
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        <title>CNH Industrial NV</title>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>

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        <name>Garmin Ltd</name>
        <lei>2549001E0HIPIJQ0W046</lei>
        <title>Garmin Ltd</title>
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          <isin value="CH0114405324"/>
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        <balance>1000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
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      <invstOrSec>
        <name>Ashland Inc</name>
        <lei>529900E4L9R04SB8HB11</lei>
        <title>Ashland Inc</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>CHIMERA INVESTMENT CORP</name>
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        <title>Chimera Investment Corp</title>
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          <ticker value="CIM"/>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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        <name>Hellenic Telecommunications Or</name>
        <lei>ELPUFM0XZRZO4LFXW404</lei>
        <title>Hellenic Telecommunications Organization SA</title>
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          <ticker value="HLTOY"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>GR</invCountry>
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        <name>Entegris Inc</name>
        <lei>IYX6OWO7BT5DKO3BYG52</lei>
        <title>Entegris Inc</title>
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      <invstOrSec>
        <name>Brookfield Wealth Solutions Lt</name>
        <lei>9845004583U3B8E06924</lei>
        <title>Brookfield Wealth Solutions Ltd</title>
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        <invCountry>CA</invCountry>
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        <name>Twin Disc Inc</name>
        <lei>549300FR8EHCY14BLP32</lei>
        <title>Twin Disc Inc</title>
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      <invstOrSec>
        <name>Eaton Corp PLC</name>
        <lei>549300VDIGTMXUNT7H71</lei>
        <title>Eaton Corp PLC</title>
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        <name>Blue Owl Capital Inc</name>
        <lei>N/A</lei>
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        <name>UGI Corp</name>
        <lei>DX6GCWD4Q1JO9CRE5I40</lei>
        <title>UGI Corp</title>
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        <name>WEC Energy Group Inc</name>
        <lei>549300IGLYTZUK3PVP70</lei>
        <title>WEC Energy Group Inc</title>
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        <name>DIGITALBRIDGE GROUP INC</name>
        <lei>549300XG87L902AGBO89</lei>
        <title>DigitalBridge Group Inc</title>
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        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill</title>
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        <name>Ollamani SAB</name>
        <lei>N/A</lei>
        <title>Ollamani SAB</title>
        <cusip>000000000</cusip>
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          <ticker value="AGUILCPO"/>
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        <invCountry>MX</invCountry>
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        <name>Boeing Co/The</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>Boeing Co/The</title>
        <cusip>097023105</cusip>
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      <invstOrSec>
        <name>AutoNation Inc</name>
        <lei>N/A</lei>
        <title>AutoNation Inc</title>
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          <ticker value="AN"/>
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        <balance>94500.00000000</balance>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>Kinder Morgan Inc</name>
        <lei>549300WR7IX8XE0TBO16</lei>
        <title>Kinder Morgan Inc</title>
        <cusip>49456B101</cusip>
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          <isin value="US49456B1017"/>
          <ticker value="KMI"/>
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        <balance>47000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1287800.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Texas Pacific Land Corp</name>
        <lei>N/A</lei>
        <title>Texas Pacific Land Corp</title>
        <cusip>88262P102</cusip>
        <identifiers>
          <isin value="US88262P1021"/>
          <ticker value="TPL"/>
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        <balance>2900.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3207284.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Rockwell Automation Inc</name>
        <lei>VH3R4HHBHH12O0EXZJ88</lei>
        <title>Rockwell Automation Inc</title>
        <cusip>773903109</cusip>
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          <isin value="US7739031091"/>
          <ticker value="ROK"/>
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        <balance>46200.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>13203498.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ATI Inc</name>
        <lei>ZW1LRE7C3H17O2ZN9B45</lei>
        <title>ATI Inc</title>
        <cusip>01741R102</cusip>
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          <isin value="US01741R1023"/>
          <ticker value="ATI"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>550400.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mueller Industries Inc</name>
        <lei>5493005IZFE4VJLLYG84</lei>
        <title>Mueller Industries Inc</title>
        <cusip>624756102</cusip>
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          <isin value="US6247561029"/>
          <ticker value="MLI"/>
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        <balance>252250.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Signify NV</name>
        <lei>549300072P3J1X8NZO35</lei>
        <title>Signify NV</title>
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          <isin value="NL0011821392"/>
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          <other otherDesc="SEDOL" value="BYY7VY5"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

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      <invstOrSec>
        <name>Wynn Resorts Ltd</name>
        <lei>254900CEKKWIHTEAB172</lei>
        <title>Wynn Resorts Ltd</title>
        <cusip>983134107</cusip>
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          <isin value="US9831341071"/>
          <ticker value="WYNN"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Accor SA</name>
        <lei>969500QZC2Q0TK11NV07</lei>
        <title>Accor SA</title>
        <cusip>000000000</cusip>
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          <isin value="FR0000120404"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NOV Inc</name>
        <lei>549300EHF3IW1AR6U008</lei>
        <title>NOV Inc</title>
        <cusip>62955J103</cusip>
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          <isin value="US62955J1034"/>
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        <balance>27000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>394200.00000000</valUSD>
        <pctVal>0.015993809245</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Deere &amp; Co</name>
        <lei>PWFTNG3EI0Y73OXWDH08</lei>
        <title>Deere &amp; Co</title>
        <cusip>244199105</cusip>
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          <isin value="US2441991054"/>
          <ticker value="DE"/>
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        <balance>53800.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>22795060.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Traton SE</name>
        <lei>529900UIMQRKPFN6SV80</lei>
        <title>Traton SE</title>
        <cusip>000000000</cusip>
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          <isin value="DE000TRAT0N7"/>
          <ticker value="8TRA"/>
          <other otherDesc="SEDOL" value="BKF1H51"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Willis Towers Watson PLC</name>
        <lei>549300WHC56FF48KL350</lei>
        <title>Willis Towers Watson PLC</title>
        <cusip>000000000</cusip>
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          <isin value="IE00BDB6Q211"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
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      <invstOrSec>
        <name>Travelers Cos Inc/The</name>
        <lei>549300Y650407RU8B149</lei>
        <title>Travelers Cos Inc/The</title>
        <cusip>89417E109</cusip>
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          <isin value="US89417E1091"/>
          <ticker value="TRV"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Edgewell Personal Care Co</name>
        <lei>549300CY8QZDL4Z3RU59</lei>
        <title>Edgewell Personal Care Co</title>
        <cusip>28035Q102</cusip>
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          <isin value="US28035Q1022"/>
          <ticker value="EPC"/>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Graco Inc</name>
        <lei>4T5VJ4S81BRT6Q7GGT78</lei>
        <title>Graco Inc</title>
        <cusip>384109104</cusip>
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          <isin value="US3841091040"/>
          <ticker value="GGG"/>
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        <balance>111500.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mueller Water Products Inc</name>
        <lei>549300F7ZU4P1F8V8L60</lei>
        <title>Mueller Water Products Inc</title>
        <cusip>624758108</cusip>
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          <isin value="US6247581084"/>
          <ticker value="MWA"/>
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      <invstOrSec>
        <name>Ashtead Group PLC</name>
        <lei>2138007UTBN8X9K1A235</lei>
        <title>Ashtead Group PLC</title>
        <cusip>000000000</cusip>
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          <isin value="GB0000536739"/>
          <ticker value="AHT"/>
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        <invCountry>GB</invCountry>
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        <name>ONEOK Inc</name>
        <lei>2T3D6M0JSY48PSZI1Q41</lei>
        <title>ONEOK Inc</title>
        <cusip>682680103</cusip>
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          <isin value="US6826801036"/>
          <ticker value="OKE"/>
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      <invstOrSec>
        <name>TRUIST FINANCIAL CORP</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp</title>
        <cusip>89832QAE9</cusip>
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      <invstOrSec>
        <name>Applied Materials Inc</name>
        <lei>41BNNE1AFPNAZELZ6K07</lei>
        <title>Applied Materials Inc</title>
        <cusip>038222105</cusip>
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          <isin value="US0382221051"/>
          <ticker value="AMAT"/>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Pernod Ricard SA</name>
        <lei>52990097YFPX9J0H5D87</lei>
        <title>Pernod Ricard SA</title>
        <cusip>000000000</cusip>
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          <isin value="FR0000120693"/>
          <ticker value="RI"/>
          <other otherDesc="SEDOL" value="4682329"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CHARLES SCHWAB CORP</name>
        <lei>549300VSGCJ7E698NM85</lei>
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          <isin value="US808513BJ38"/>
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        <curCd>USD</curCd>
        <valUSD>1296826.58000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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          <maturityDt>N/A</maturityDt>
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      </invstOrSec>
      <invstOrSec>
        <name>COMPASS DIVERSIF HOLDING</name>
        <lei>5299001SM1LBYANJRR58</lei>
        <title>Compass Diversified Holdings</title>
        <cusip>20451Q203</cusip>
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          <isin value="US20451Q2030"/>
          <ticker value="CODI"/>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Havas NV</name>
        <lei>894500L53AVOFQK7T710</lei>
        <title>Havas NV</title>
        <cusip>000000000</cusip>
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          <isin value="NL0015002AH0"/>
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          <other otherDesc="SEDOL" value="BT6MF41"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HSBC Holdings PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings PLC</title>
        <cusip>404280406</cusip>
        <identifiers>
          <isin value="US4042804066"/>
          <ticker value="HSBC"/>
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        <balance>22700.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1122742.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VICI Properties Inc</name>
        <lei>254900RKH6RY9KCJQH63</lei>
        <title>VICI Properties Inc</title>
        <cusip>925652109</cusip>
        <identifiers>
          <isin value="US9256521090"/>
          <ticker value="VICI"/>
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        <balance>9600.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>280416.00000000</valUSD>
        <pctVal>0.011377270455</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Severn Trent PLC</name>
        <lei>213800RPBXRETY4A4C59</lei>
        <title>Severn Trent PLC</title>
        <cusip>000000000</cusip>
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          <isin value="GB00B1FH8J72"/>
          <ticker value="SVT"/>
          <other otherDesc="SEDOL" value="B1FH8J7"/>
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        <balance>34000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Elevance Health Inc</name>
        <lei>8MYN82XMYQH89CTMTH67</lei>
        <title>Elevance Health Inc</title>
        <cusip>036752103</cusip>
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          <isin value="US0367521038"/>
          <ticker value="ELV"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fiserv Inc</name>
        <lei>GI7UBEJLXYLGR2C7GV83</lei>
        <title>Fiserv Inc</title>
        <cusip>337738108</cusip>
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          <isin value="US3377381088"/>
          <ticker value="FI"/>
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        <curCd>USD</curCd>
        <valUSD>1232520.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Mandarin Oriental Internationa</name>
        <lei>213800KQ1UMKZ1JXJR80</lei>
        <title>Mandarin Oriental International Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG578481068"/>
          <ticker value="MAND"/>
          <other otherDesc="SEDOL" value="6560713"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>696000.00000000</valUSD>
        <pctVal>0.028238689079</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Walgreens Boots Alliance Inc</name>
        <lei>549300RPTUOIXG4LIH86</lei>
        <title>Walgreens Boots Alliance Inc</title>
        <cusip>931427108</cusip>
        <identifiers>
          <isin value="US9314271084"/>
          <ticker value="WBA"/>
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        <balance>82000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>765060.00000000</valUSD>
        <pctVal>0.031040648659</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Aspen Technology Inc</name>
        <lei>254900545H80W6GA2J08</lei>
        <title>Aspen Technology Inc</title>
        <cusip>29109X106</cusip>
        <identifiers>
          <isin value="US29109X1063"/>
          <ticker value="AZPN"/>
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        <balance>1000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>249630.00000000</valUSD>
        <pctVal>0.010128195337</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GATX Corp</name>
        <lei>549300IHYHCQP2PIR591</lei>
        <title>GATX Corp</title>
        <cusip>361448103</cusip>
        <identifiers>
          <isin value="US3614481030"/>
          <ticker value="GATX"/>
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        <balance>168500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26110760.00000000</valUSD>
        <pctVal>1.059387404118</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Senior PLC</name>
        <lei>5493002HQHWN5JQHKQ51</lei>
        <title>Senior PLC</title>
        <cusip>000000000</cusip>
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          <isin value="GB0007958233"/>
          <ticker value="SNR"/>
          <other otherDesc="SEDOL" value="0795823"/>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</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>Astec Industries Inc</name>
        <lei>5493002DO2QKHLKB2A48</lei>
        <title>Astec Industries Inc</title>
        <cusip>046224101</cusip>
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          <isin value="US0462241011"/>
          <ticker value="ASTE"/>
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        <balance>66000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2217600.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ENSTAR GROUP LTD</name>
        <lei>213800AMAL5QFXVUCN04</lei>
        <title>Enstar Group Ltd</title>
        <cusip>29359U109</cusip>
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          <isin value="US29359U1097"/>
          <ticker value="ESGR"/>
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        <balance>15487.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>315160.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>American Water Works Co Inc</name>
        <lei>549300DXHIJQMD5WFW18</lei>
        <title>American Water Works Co Inc</title>
        <cusip>030420103</cusip>
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          <isin value="US0304201033"/>
          <ticker value="AWK"/>
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        <balance>6000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>746940.00000000</valUSD>
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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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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Carrier Global Corp</name>
        <lei>549300JE3W6CWY2NAN77</lei>
        <title>Carrier Global Corp</title>
        <cusip>14448C104</cusip>
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          <isin value="US14448C1045"/>
          <ticker value="CARR"/>
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        <balance>102000.00000000</balance>
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        <curCd>USD</curCd>
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        <pctVal>0.282489134323</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hewlett Packard Enterprise Co</name>
        <lei>549300BX44RGX6ANDV88</lei>
        <title>Hewlett Packard Enterprise Co</title>
        <cusip>42824C109</cusip>
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          <isin value="US42824C1099"/>
          <ticker value="HPE"/>
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        <balance>558589.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Blackstone Inc</name>
        <lei>5299004LW4QWGZUB8Y96</lei>
        <title>Blackstone Inc</title>
        <cusip>09260D107</cusip>
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          <isin value="US09260D1072"/>
          <ticker value="BX"/>
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        <balance>73500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12672870.00000000</valUSD>
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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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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Macy's Inc</name>
        <lei>529900NZQ81TIOW3CW52</lei>
        <title>Macy's Inc</title>
        <cusip>55616P104</cusip>
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          <isin value="US55616P1049"/>
          <ticker value="M"/>
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        <balance>6750.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>114277.50000000</valUSD>
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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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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Shell PLC</name>
        <lei>21380068P1DRHMJ8KU70</lei>
        <title>Shell PLC</title>
        <cusip>780259305</cusip>
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          <isin value="US7802593050"/>
          <ticker value="SHEL"/>
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        <balance>92300.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5782595.00000000</valUSD>
        <pctVal>0.234616238903</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIZENS FINANCIAL GROUP</name>
        <lei>2138004JDDA4ZQUPFW65</lei>
        <title>Citizens Financial Group Inc</title>
        <cusip>174610BD6</cusip>
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          <isin value="US174610BD66"/>
          <other otherDesc="SEDOL" value="BN6PZT3"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1427739.45000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Baxter International Inc</name>
        <lei>J5OIVXX3P24RJRW5CK77</lei>
        <title>Baxter International Inc</title>
        <cusip>071813109</cusip>
        <identifiers>
          <isin value="US0718131099"/>
          <ticker value="BAX"/>
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        <balance>112200.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3271752.00000000</valUSD>
        <pctVal>0.132744234874</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Home Depot Inc/The</name>
        <lei>QEKMOTMBBKA8I816DO57</lei>
        <title>Home Depot Inc/The</title>
        <cusip>437076102</cusip>
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          <isin value="US4370761029"/>
          <ticker value="HD"/>
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        <balance>6000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2333940.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>National Grid PLC</name>
        <lei>8R95QZMKZLJX5Q2XR704</lei>
        <title>National Grid PLC</title>
        <cusip>636274409</cusip>
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          <isin value="US6362744095"/>
          <ticker value="NGG"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1188400.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Rolls-Royce Holdings PLC</name>
        <lei>213800EC7997ZBLZJH69</lei>
        <title>Rolls-Royce Holdings PLC</title>
        <cusip>000000000</cusip>
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          <isin value="GB00B63H8491"/>
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        <balance>1240000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Nissin Foods Holdings Co Ltd</name>
        <lei>529900YMZMNSHC1W6V41</lei>
        <title>Nissin Foods Holdings Co Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="JP3675600005"/>
          <ticker value="2897"/>
          <other otherDesc="SEDOL" value="6641760"/>
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        <balance>384000.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="157.34500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill</title>
        <cusip>912797NK9</cusip>
        <identifiers>
          <isin value="US912797NK95"/>
          <other otherDesc="SEDOL" value="BRBFPB8"/>
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        <balance>25000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>24823940.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-04</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Deutsche Telekom AG</name>
        <lei>549300V9QSIG4WX4GJ96</lei>
        <title>Deutsche Telekom AG</title>
        <cusip>251566105</cusip>
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          <isin value="US2515661054"/>
          <ticker value="DTEGY"/>
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        <balance>390000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11641500.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Cooper Cos Inc/The</name>
        <lei>QJKMVPIGLH7530PCUE20</lei>
        <title>Cooper Cos Inc/The</title>
        <cusip>216648501</cusip>
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          <isin value="US2166485019"/>
          <ticker value="COO"/>
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        <balance>46000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4228780.00000000</valUSD>
        <pctVal>0.171573568398</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Alliant Energy Corp</name>
        <lei>5493009ML300G373MZ12</lei>
        <title>Alliant Energy Corp</title>
        <cusip>018802108</cusip>
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          <isin value="US0188021085"/>
          <ticker value="LNT"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5914000.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Repsol SA</name>
        <lei>BSYCX13Y0NOTV14V9N85</lei>
        <title>Repsol SA</title>
        <cusip>76026T205</cusip>
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          <isin value="US76026T2050"/>
          <ticker value="REPYY"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>909000.00000000</valUSD>
        <pctVal>0.036880701685</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill</title>
        <cusip>912797NC7</cusip>
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          <isin value="US912797NC79"/>
          <other otherDesc="SEDOL" value="BSF06H9"/>
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        <balance>9250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9130788.04000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-04-24</maturityDt>
          <couponKind>None</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co</title>
        <cusip>48128B523</cusip>
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          <isin value="US48128B5232"/>
          <ticker value="JPM"/>
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        <balance>226086.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4270764.54000000</valUSD>
        <pctVal>0.173276999965</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N-able Inc/US</name>
        <lei>N/A</lei>
        <title>N-able Inc/US</title>
        <cusip>62878D100</cusip>
        <identifiers>
          <isin value="US62878D1000"/>
          <ticker value="NABL"/>
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        <balance>81000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>756540.00000000</valUSD>
        <pctVal>0.030694968155</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>M&amp;T Bank Corp</name>
        <lei>549300WYXDDBYRASEG81</lei>
        <title>M&amp;T Bank Corp</title>
        <cusip>55261F104</cusip>
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          <isin value="US55261F1049"/>
          <ticker value="MTB"/>
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        <balance>35500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6674355.00000000</valUSD>
        <pctVal>0.270797465015</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AES Corp/The</name>
        <lei>2NUNNB7D43COUIRE5295</lei>
        <title>AES Corp/The</title>
        <cusip>00130H105</cusip>
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          <isin value="US00130H1059"/>
          <ticker value="AES"/>
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        <balance>61600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>792792.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Visa Inc</name>
        <lei>549300JZ4OKEHW3DPJ59</lei>
        <title>Visa Inc</title>
        <cusip>92826C839</cusip>
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          <isin value="US92826C8394"/>
          <ticker value="V"/>
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        <balance>37600.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11883104.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Bausch + Lomb Corp</name>
        <lei>549300NY6OZM39SO6475</lei>
        <title>Bausch + Lomb Corp</title>
        <cusip>071705107</cusip>
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          <isin value="CA0717051076"/>
          <ticker value="BLCO"/>
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        <balance>198000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3575880.00000000</valUSD>
        <pctVal>0.145083568254</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

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          <isCashCollateral>N</isCashCollateral>
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        <name>Yakult Honsha Co Ltd</name>
        <lei>353800YJPSPGG7KI0S71</lei>
        <title>Yakult Honsha Co Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="JP3931600005"/>
          <ticker value="2267"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Atmus Filtration Technologies</name>
        <lei>N/A</lei>
        <title>Atmus Filtration Technologies Inc</title>
        <cusip>04956D107</cusip>
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          <isin value="US04956D1072"/>
          <ticker value="ATMU"/>
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        <balance>15000.00000000</balance>
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        <valUSD>587700.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Woodside Energy Group Ltd</name>
        <lei>2549005ZC5RXAOO7FH41</lei>
        <title>Woodside Energy Group Ltd</title>
        <cusip>980228308</cusip>
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          <isin value="US9802283088"/>
          <ticker value="WDS"/>
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        <balance>2891.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>45099.60000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Bassett Furniture Industries I</name>
        <lei>N/A</lei>
        <title>Bassett Furniture Industries Inc</title>
        <cusip>070203104</cusip>
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          <isin value="US0702031040"/>
          <ticker value="BSET"/>
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        <balance>19000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>262770.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Starbucks Corp</name>
        <lei>OQSJ1DU9TAOC51A47K68</lei>
        <title>Starbucks Corp</title>
        <cusip>855244109</cusip>
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          <isin value="US8552441094"/>
          <ticker value="SBUX"/>
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        <balance>15000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1368750.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Stratasys Ltd</name>
        <lei>529900MU215GIP9SZ741</lei>
        <title>Stratasys Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="IL0011267213"/>
          <ticker value="SSYS"/>
          <other otherDesc="SEDOL" value="B7WD7D7"/>
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        <balance>32000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>284480.00000000</valUSD>
        <pctVal>0.011542158432</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Hokkaido Electric Power Co Inc</name>
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      <invstOrSec>
        <name>Fastly Inc</name>
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      <invstOrSec>
        <name>Kroger Co/The</name>
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      <invstOrSec>
        <name>TREASURY BILL</name>
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      <invstOrSec>
        <name>Genuine Parts Co</name>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>T-Mobile US Inc</name>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>General Electric Co</name>
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          <isin value="US3696043013"/>
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      <invstOrSec>
        <name>Devon Energy Corp</name>
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        <assetCat>EC</assetCat>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Eli Lilly &amp; Co</name>
        <lei>FRDRIPF3EKNDJ2CQJL29</lei>
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        <assetCat>EC</assetCat>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ALLSTATE CORP</name>
        <lei>OBT0W1ED8G0NWVOLOJ77</lei>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Costco Wholesale Corp</name>
        <lei>29DX7H14B9S6O3FD6V18</lei>
        <title>Costco Wholesale Corp</title>
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      <invstOrSec>
        <name>ITOCHU Corp</name>
        <lei>J48DJYXDTLHM30UMYI18</lei>
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        <name>Arcosa Inc</name>
        <lei>549300WFHLTCZV7D6V29</lei>
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        <name>Patterson Cos Inc</name>
        <lei>YM48Q2087CUE26GWEK09</lei>
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        <name>Universal Display Corp</name>
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        <name>Leidos Holdings Inc</name>
        <lei>549300IUTGTP6EJP8124</lei>
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        <name>Rogers Communications Inc</name>
        <lei>5493000M6Z4XFIP6PF03</lei>
        <title>Rogers Communications Inc</title>
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        <name>Corning Inc</name>
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        <name>BCE Inc</name>
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        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <name>Newmont Corp</name>
        <lei>549300VSP3RIX7FGDZ51</lei>
        <title>Newmont Corp</title>
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        <name>The Campbell's Company</name>
        <lei>5493007JDSMX8Z5Z1902</lei>
        <title>The Campbell's Company</title>
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        <name>STEEL PARTNERS HLDS LP</name>
        <lei>5493009U8Z59G5SIZ389</lei>
        <title>Steel Partners Holdings LP</title>
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        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Liberty Global Ltd</name>
        <lei>213800HRMKKTYH7SKA24</lei>
        <title>Liberty Global Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="BMG611881274"/>
          <ticker value="LBTYK"/>
          <other otherDesc="SEDOL" value="BS71BR5"/>
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        <balance>277000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3639780.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Gen Digital Inc</name>
        <lei>YF6ZV0M6AU4FY94MK914</lei>
        <title>Gen Digital Inc</title>
        <cusip>668771108</cusip>
        <identifiers>
          <isin value="US6687711084"/>
          <ticker value="GEN"/>
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        <balance>2500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>68450.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>H&amp;E Equipment Services Inc</name>
        <lei>254900KVLRCDMQRYY541</lei>
        <title>H&amp;E Equipment Services Inc</title>
        <cusip>404030108</cusip>
        <identifiers>
          <isin value="US4040301081"/>
          <ticker value="HEES"/>
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        <balance>4500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>220320.00000000</valUSD>
        <pctVal>0.008939005715</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Cheniere Energy Inc</name>
        <lei>MIHC87W9WTYSYZWV1J40</lei>
        <title>Cheniere Energy Inc</title>
        <cusip>16411R208</cusip>
        <identifiers>
          <isin value="US16411R2085"/>
          <ticker value="LNG"/>
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        <balance>400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>85948.00000000</valUSD>
        <pctVal>0.003487153518</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PetroChina Co Ltd</name>
        <lei>529900RPY4YG47TRSV05</lei>
        <title>PetroChina Co Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="CNE1000003W8"/>
          <ticker value="857"/>
          <other otherDesc="SEDOL" value="6226576"/>
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        <balance>100000.00000000</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.76665000"/>
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        <pctVal>0.003191852296</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Kyndryl Holdings Inc</name>
        <lei>549300LQ4LWX2R8ZV130</lei>
        <title>Kyndryl Holdings Inc</title>
        <cusip>50155Q100</cusip>
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          <isin value="US50155Q1004"/>
          <ticker value="KD"/>
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        <balance>51100.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1768060.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>3D Systems Corp</name>
        <lei>5493003HHDOCCW4OP744</lei>
        <title>3D Systems Corp</title>
        <cusip>88554D205</cusip>
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          <isin value="US88554D2053"/>
          <ticker value="DDD"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
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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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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Alliance Resource Partners LP</name>
        <lei>529900T4Q5UPWOUFG783</lei>
        <title>Alliance Resource Partners LP</title>
        <cusip>01877R108</cusip>
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          <isin value="US01877R1086"/>
          <ticker value="ARLP"/>
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        <balance>16000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>420640.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Eversource Energy</name>
        <lei>SJ7XXD41SQU3ZNWUJ746</lei>
        <title>Eversource Energy</title>
        <cusip>30040W108</cusip>
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          <isin value="US30040W1080"/>
          <ticker value="ES"/>
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        <balance>12500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>717875.00000000</valUSD>
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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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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Lifecore Biomedical Inc</name>
        <lei>549300EHBZ5OM9ND9O43</lei>
        <title>Lifecore Biomedical Inc</title>
        <cusip>514766104</cusip>
        <identifiers>
          <isin value="US5147661046"/>
          <ticker value="LFCR"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>74300.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>McKesson Corp</name>
        <lei>549300WZWOM80UCFSF54</lei>
        <title>McKesson Corp</title>
        <cusip>58155Q103</cusip>
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          <isin value="US58155Q1031"/>
          <ticker value="MCK"/>
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        <balance>8000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4559280.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Maple Leaf Foods Inc</name>
        <lei>549300LX07S5J8F76F37</lei>
        <title>Maple Leaf Foods Inc</title>
        <cusip>564905107</cusip>
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          <isin value="CA5649051078"/>
          <ticker value="MFI"/>
          <other otherDesc="SEDOL" value="2555865"/>
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        <balance>108000.00000000</balance>
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        <currencyConditional curCd="CAD" exchangeRt="1.43745000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Alphabet Inc</name>
        <lei>5493006MHB84DD0ZWV18</lei>
        <title>Alphabet Inc</title>
        <cusip>02079K305</cusip>
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          <isin value="US02079K3059"/>
          <ticker value="GOOGL"/>
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        <balance>27000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5111100.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Piaggio &amp; C SpA</name>
        <lei>8156000256C2431C2E92</lei>
        <title>Piaggio &amp; C SpA</title>
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          <isin value="IT0003073266"/>
          <ticker value="PIA"/>
          <other otherDesc="SEDOL" value="B15CPD5"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
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      <invstOrSec>
        <name>Ryman Hospitality Properties I</name>
        <lei>529900GCCWW9SRMPJR11</lei>
        <title>Ryman Hospitality Properties Inc</title>
        <cusip>78377T107</cusip>
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          <isin value="US78377T1079"/>
          <ticker value="RHP"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <name>Sony Group Corp</name>
        <lei>529900R5WX9N2OI2N910</lei>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <name>Valvoline Inc</name>
        <lei>549300CMHPBEY6VPOT75</lei>
        <title>Valvoline Inc</title>
        <cusip>92047W101</cusip>
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          <isin value="US92047W1018"/>
          <ticker value="VVV"/>
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        <valUSD>2351700.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Dana Inc</name>
        <lei>KVWHW7YLZPFJM8QYNJ51</lei>
        <title>Dana Inc</title>
        <cusip>235825205</cusip>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Teva Pharmaceutical Industries</name>
        <lei>549300BAFGM4RC74ZJ94</lei>
        <title>Teva Pharmaceutical Industries Ltd</title>
        <cusip>881624209</cusip>
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          <isin value="US8816242098"/>
          <ticker value="TEVA"/>
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        <balance>135000.00000000</balance>
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        <valUSD>2975400.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Modine Manufacturing Co</name>
        <lei>Z35SZFYJR8GZZRSIUU09</lei>
        <title>Modine Manufacturing Co</title>
        <cusip>607828100</cusip>
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          <isin value="US6078281002"/>
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        <curCd>USD</curCd>
        <valUSD>1391160.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Organon &amp; Co</name>
        <lei>549300AMCKY57OK2CO56</lei>
        <title>Organon &amp; Co</title>
        <cusip>68622V106</cusip>
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          <isin value="US68622V1061"/>
          <ticker value="OGN"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SCE TRUST IV</name>
        <lei>N/A</lei>
        <title>SCE Trust IV</title>
        <cusip>78409G206</cusip>
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          <isin value="US78409G2066"/>
          <ticker value="EIX"/>
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        <curCd>USD</curCd>
        <valUSD>190851.70000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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        <name>CTS Corp</name>
        <lei>549300YV1HQLBVHOI649</lei>
        <title>CTS Corp</title>
        <cusip>126501105</cusip>
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        <curCd>USD</curCd>
        <valUSD>158190.00000000</valUSD>
        <pctVal>0.006418215841</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Boyd Gaming Corp</name>
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      <invstOrSec>
        <name>Sherwin-Williams Co/The</name>
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      <invstOrSec>
        <name>Osisko Gold Royalties Ltd</name>
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      <invstOrSec>
        <name>Bristol-Myers Squibb Co</name>
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      <invstOrSec>
        <name>Charles River Laboratories Int</name>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KKR REAL ESTATE FIN</name>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Tohoku Electric Power Co Inc</name>
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      <invstOrSec>
        <name>AMPCO-PITTSBURGH CORP</name>
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        <name>ITV PLC</name>
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        <name>APA Corp</name>
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        <name>Elbit Systems Ltd</name>
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        <invCountry>IL</invCountry>
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        <name>HEICO Corp</name>
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        <name>Kellanova</name>
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        <title>Kellanova</title>
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        <name>Franco-Nevada Corp</name>
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        <name>Nintendo Co Ltd</name>
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        <title>Nintendo Co Ltd</title>
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        <name>Moody's Corp</name>
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        <name>PPL Corp</name>
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        <name>U-Haul Holding Co</name>
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        <name>Heineken Holding NV</name>
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        <name>American Express Co</name>
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        <name>United Utilities Group PLC</name>
        <lei>2138002IEYQAOC88ZJ59</lei>
        <title>United Utilities Group PLC</title>
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        <invCountry>GB</invCountry>
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        <name>Intercontinental Exchange Inc</name>
        <lei>5493000F4ZO33MV32P92</lei>
        <title>Intercontinental Exchange Inc</title>
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        <name>MSC Industrial Direct Co Inc</name>
        <lei>0XVKH0LN6YGOWO2EGO17</lei>
        <title>MSC Industrial Direct Co Inc</title>
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        <assetCat>EC</assetCat>
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        <name>TELUS Corp</name>
        <lei>L2TEUTQ8OSHMJWVLCE40</lei>
        <title>TELUS Corp</title>
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        <name>Atlanta Braves Holdings Inc</name>
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        <name>IFF</name>
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        <name>Elanco Animal Health Inc</name>
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        <name>Mitsubishi Corp</name>
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        <name>Astronics Corp</name>
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        <name>Meta Platforms Inc</name>
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        <name>NiSource Inc</name>
        <lei>549300D8GOWWH0SJB189</lei>
        <title>NiSource Inc</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Johnson Controls International</name>
        <lei>549300XQ6S1GYKGBL205</lei>
        <title>Johnson Controls International plc</title>
        <cusip>000000000</cusip>
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          <isin value="IE00BY7QL619"/>
          <ticker value="JCI"/>
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        <balance>152000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11997360.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Golden Entertainment Inc</name>
        <lei>549300P8YYCKQVJ0Y638</lei>
        <title>Golden Entertainment Inc</title>
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          <isin value="US3810131017"/>
          <ticker value="GDEN"/>
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        <balance>16500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>521400.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Zimmer Biomet Holdings Inc</name>
        <lei>2P2YLDVPES3BXQ1FRB91</lei>
        <title>Zimmer Biomet Holdings Inc</title>
        <cusip>98956P102</cusip>
        <identifiers>
          <isin value="US98956P1021"/>
          <ticker value="ZBH"/>
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        <balance>31000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3274530.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Avis Budget Group Inc</name>
        <lei>529900E95812SYWMCE44</lei>
        <title>Avis Budget Group Inc</title>
        <cusip>053774105</cusip>
        <identifiers>
          <isin value="US0537741052"/>
          <ticker value="CAR"/>
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        <balance>20000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1612200.00000000</valUSD>
        <pctVal>0.065411515134</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MGE Energy Inc</name>
        <lei>N/A</lei>
        <title>MGE Energy Inc</title>
        <cusip>55277P104</cusip>
        <identifiers>
          <isin value="US55277P1049"/>
          <ticker value="MGEE"/>
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        <balance>23000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2161080.00000000</valUSD>
        <pctVal>0.087681129591</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AutoZone Inc</name>
        <lei>GA3JGKJ41LJKXDN23E90</lei>
        <title>AutoZone Inc</title>
        <cusip>053332102</cusip>
        <identifiers>
          <isin value="US0533321024"/>
          <ticker value="AZO"/>
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        <balance>900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2881800.00000000</valUSD>
        <pctVal>0.116922779007</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Jungheinrich AG</name>
        <lei>529900PHZORTU6FSXE73</lei>
        <title>Jungheinrich AG</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE0006219934"/>
          <ticker value="JUN3"/>
          <other otherDesc="SEDOL" value="5545670"/>
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        <balance>2000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.96539074"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Roche Holding AG</name>
        <lei>549300U41AUUVOAAOB37</lei>
        <title>Roche Holding AG</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CH0012032048"/>
          <ticker value="ROG"/>
          <other otherDesc="SEDOL" value="7110388"/>
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        <balance>800.00000000</balance>
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        <currencyConditional curCd="CHF" exchangeRt="0.90755000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RPC Inc</name>
        <lei>N/A</lei>
        <title>RPC Inc</title>
        <cusip>749660106</cusip>
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          <isin value="US7496601060"/>
          <ticker value="RES"/>
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        <balance>456825.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2713540.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Cencora Inc</name>
        <lei>AI8GXW8LG5WK7E9UD086</lei>
        <title>Cencora Inc</title>
        <cusip>03073E105</cusip>
        <identifiers>
          <isin value="US03073E1055"/>
          <ticker value="COR"/>
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        <balance>25000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5617000.00000000</valUSD>
        <pctVal>0.227897581262</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Kraft Heinz Co/The</name>
        <lei>9845007488EC87F5AF14</lei>
        <title>Kraft Heinz Co/The</title>
        <cusip>500754106</cusip>
        <identifiers>
          <isin value="US5007541064"/>
          <ticker value="KHC"/>
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        <balance>334000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10257140.00000000</valUSD>
        <pctVal>0.416161188654</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SolarWinds Corp</name>
        <lei>N/A</lei>
        <title>SolarWinds Corp</title>
        <cusip>83417Q204</cusip>
        <identifiers>
          <isin value="US83417Q2049"/>
          <ticker value="SWI"/>
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        <balance>42973.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>612365.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Blackrock Inc</name>
        <lei>529900VBK42Y5HHRMD23</lei>
        <title>Blackrock Inc</title>
        <cusip>09290D101</cusip>
        <identifiers>
          <isin value="US09290D1019"/>
          <ticker value="BLK"/>
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        <balance>14650.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>15017861.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Kyushu Electric Power Co Inc</name>
        <lei>549300BYNZPLKQVQH430</lei>
        <title>Kyushu Electric Power Co Inc</title>
        <cusip>000000000</cusip>
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          <isin value="JP3246400000"/>
          <ticker value="9508"/>
          <other otherDesc="SEDOL" value="6499806"/>
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        <balance>23000.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</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>Equinix Inc</name>
        <lei>549300EVUN2BTLJ3GT74</lei>
        <title>Equinix Inc</title>
        <cusip>29444U700</cusip>
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          <isin value="US29444U7000"/>
          <ticker value="EQIX"/>
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        <balance>1400.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1320046.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chemed Corp</name>
        <lei>54930020031IDJT2IM79</lei>
        <title>Chemed Corp</title>
        <cusip>16359R103</cusip>
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          <isin value="US16359R1032"/>
          <ticker value="CHE"/>
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        <balance>12500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6622500.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PepsiCo Inc</name>
        <lei>FJSUNZKFNQ5YPJ5OT455</lei>
        <title>PepsiCo Inc</title>
        <cusip>713448108</cusip>
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          <isin value="US7134481081"/>
          <ticker value="PEP"/>
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        <balance>61000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9275660.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Berkshire Hathaway Inc</name>
        <lei>5493000C01ZX7D35SD85</lei>
        <title>Berkshire Hathaway Inc</title>
        <cusip>084670702</cusip>
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          <isin value="US0846707026"/>
          <ticker value="BRK/B"/>
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        <balance>55500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>25157040.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Conn's Inc</name>
        <lei>529900K9HOACKOJJT953</lei>
        <title>Conn's Inc</title>
        <cusip>208242107</cusip>
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          <isin value="US2082421072"/>
          <ticker value="CONNQ"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>20.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Caesars Entertainment Inc</name>
        <lei>549300FA4CTCW903Y781</lei>
        <title>Caesars Entertainment Inc</title>
        <cusip>12769G100</cusip>
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          <isin value="US12769G1004"/>
          <ticker value="CZR"/>
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        <balance>31800.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1062756.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Greif Inc</name>
        <lei>54930070FVGKR0Z1FI24</lei>
        <title>Greif Inc</title>
        <cusip>397624107</cusip>
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          <isin value="US3976241071"/>
          <ticker value="GEF"/>
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        <balance>6500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>397280.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Mondelez International Inc</name>
        <lei>549300DV9GIB88LZ5P30</lei>
        <title>Mondelez International Inc</title>
        <cusip>609207105</cusip>
        <identifiers>
          <isin value="US6092071058"/>
          <ticker value="MDLZ"/>
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        <balance>353000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>21084690.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Advanced Micro Devices Inc</name>
        <lei>R2I72C950HOYXII45366</lei>
        <title>Advanced Micro Devices Inc</title>
        <cusip>007903107</cusip>
        <identifiers>
          <isin value="US0079031078"/>
          <ticker value="AMD"/>
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        <balance>31000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3744490.00000000</valUSD>
        <pctVal>0.151924552975</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Lear Corp</name>
        <lei>549300UPNBTXA1SYTQ33</lei>
        <title>Lear Corp</title>
        <cusip>521865204</cusip>
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          <isin value="US5218652049"/>
          <ticker value="LEA"/>
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        <balance>5700.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>539790.00000000</valUSD>
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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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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Chubu Electric Power Co Inc</name>
        <lei>529900A76GOP0PGNHT63</lei>
        <title>Chubu Electric Power Co Inc</title>
        <cusip>000000000</cusip>
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          <isin value="JP3526600006"/>
          <ticker value="9502"/>
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        <balance>18000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Altaba Inc Escrow</name>
        <lei>N/A</lei>
        <title>Altaba Inc Escrow</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="021ESC017"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>57000.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PHENIXFIN CORP</name>
        <lei>549300JJH1QEB0RKNO53</lei>
        <title>PhenixFIN Corp</title>
        <cusip>71742W301</cusip>
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          <isin value="US71742W3016"/>
          <ticker value="PFX"/>
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        <balance>5000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>115300.00000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BHP Group Ltd</name>
        <lei>WZE1WSENV6JSZFK0JC28</lei>
        <title>BHP Group Ltd</title>
        <cusip>088606108</cusip>
        <identifiers>
          <isin value="US0886061086"/>
          <ticker value="BHP"/>
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        <balance>8000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>390640.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</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>Treace Medical Concepts Inc</name>
        <lei>N/A</lei>
        <title>Treace Medical Concepts Inc</title>
        <cusip>89455T109</cusip>
        <identifiers>
          <isin value="US89455T1097"/>
          <ticker value="TMCI"/>
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        <balance>15000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>111600.00000000</valUSD>
        <pctVal>0.004527927731</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Enterprise Products Partners L</name>
        <lei>K4CDIF4M54DJZ6TB4Q48</lei>
        <title>Enterprise Products Partners LP</title>
        <cusip>293792107</cusip>
        <identifiers>
          <isin value="US2937921078"/>
          <ticker value="EPD"/>
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        <balance>190000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5958400.00000000</valUSD>
        <pctVal>0.241749145130</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Republic Services Inc</name>
        <lei>NKNQHM6BLECKVOQP7O46</lei>
        <title>Republic Services Inc</title>
        <cusip>760759100</cusip>
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          <isin value="US7607591002"/>
          <ticker value="RSG"/>
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        <balance>175500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>35307090.00000000</valUSD>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Morinaga Milk Industry Co Ltd</name>
        <lei>529900FB91P7MVO08949</lei>
        <title>Morinaga Milk Industry Co Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="JP3926800008"/>
          <ticker value="2264"/>
          <other otherDesc="SEDOL" value="6602648"/>
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        <balance>60000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ATHENE HOLDING LTD</name>
        <lei>549300H316CT32FQXI76</lei>
        <title>Athene Holding Ltd</title>
        <cusip>04686J200</cusip>
        <identifiers>
          <isin value="US04686J2006"/>
          <ticker value="ATH"/>
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        <balance>30441.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>625258.14000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Bank of America Corp</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp</title>
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          <isin value="US0605051046"/>
          <ticker value="BAC"/>
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        <balance>241500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10613925.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sika AG</name>
        <lei>549300R3N69ECGYPU434</lei>
        <title>Sika AG</title>
        <cusip>000000000</cusip>
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          <isin value="CH0418792922"/>
          <ticker value="SIKA"/>
          <other otherDesc="SEDOL" value="BF2DSG3"/>
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        <balance>11000.00000000</balance>
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        <currencyConditional curCd="CHF" exchangeRt="0.90755000"/>
        <valUSD>2615613.46000000</valUSD>
        <pctVal>0.106122838001</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Merck &amp; Co Inc</name>
        <lei>4YV9Y5M8S0BRK1RP0397</lei>
        <title>Merck &amp; Co Inc</title>
        <cusip>58933Y105</cusip>
        <identifiers>
          <isin value="US58933Y1055"/>
          <ticker value="MRK"/>
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        <balance>164300.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16344564.00000000</valUSD>
        <pctVal>0.663145202491</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>COMPASS DIVERSIF HOLDING</name>
        <lei>5299001SM1LBYANJRR58</lei>
        <title>Compass Diversified Holdings</title>
        <cusip>20451Q302</cusip>
        <identifiers>
          <isin value="US20451Q3020"/>
          <ticker value="CODI"/>
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        <balance>93590.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2268621.60000000</valUSD>
        <pctVal>0.092044396553</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Southwest Gas Holdings Inc</name>
        <lei>254900LKF9EV0CUKNE09</lei>
        <title>Southwest Gas Holdings Inc</title>
        <cusip>844895102</cusip>
        <identifiers>
          <isin value="US8448951025"/>
          <ticker value="SWX"/>
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        <balance>37000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2616270.00000000</valUSD>
        <pctVal>0.106149475686</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ferguson Enterprises Inc</name>
        <lei>2138003JYQMRP3SLX189</lei>
        <title>Ferguson Enterprises Inc</title>
        <cusip>31488V107</cusip>
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          <isin value="US31488V1070"/>
          <ticker value="FERG"/>
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        <balance>1200.00000000</balance>
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        <valUSD>208284.00000000</valUSD>
        <pctVal>0.008450671143</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Aptiv PLC</name>
        <lei>N/A</lei>
        <title>Aptiv PLC</title>
        <cusip>000000000</cusip>
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          <isin value="JE00BTDN8H13"/>
          <ticker value="APTV"/>
          <other otherDesc="SEDOL" value="BTDN8H1"/>
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        <balance>48676.00000000</balance>
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        <valUSD>2943924.48000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>O'Reilly Automotive Inc</name>
        <lei>549300K2RLMQL149Q332</lei>
        <title>O'Reilly Automotive Inc</title>
        <cusip>67103H107</cusip>
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          <isin value="US67103H1077"/>
          <ticker value="ORLY"/>
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        <valUSD>22411620.00000000</valUSD>
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      <invstOrSec>
        <name>Philip Morris International In</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>Philip Morris International Inc</title>
        <cusip>718172109</cusip>
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          <isin value="US7181721090"/>
          <ticker value="PM"/>
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        <balance>224000.00000000</balance>
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        <valUSD>26958400.00000000</valUSD>
        <pctVal>1.093778557008</pctVal>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Iveco Group NV</name>
        <lei>549300ZWF2ZJDD9EOR96</lei>
        <title>Iveco Group NV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL0015000LU4"/>
          <ticker value="IVG"/>
          <other otherDesc="SEDOL" value="BKPGF52"/>
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        <balance>344000.00000000</balance>
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        <pctVal>0.135032243010</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ALBEMARLE CORP</name>
        <lei>HDBLS2Q6GV1LSKQPBS54</lei>
        <title>Albemarle Corp</title>
        <cusip>012653200</cusip>
        <identifiers>
          <isin value="US0126532003"/>
          <ticker value="ALB"/>
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        <balance>44576.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1813797.44000000</valUSD>
        <pctVal>0.073590893622</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Resideo Technologies Inc</name>
        <lei>5493006TKFPYISY2DS54</lei>
        <title>Resideo Technologies Inc</title>
        <cusip>76118Y104</cusip>
        <identifiers>
          <isin value="US76118Y1047"/>
          <ticker value="REZI"/>
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        <balance>143000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3296150.00000000</valUSD>
        <pctVal>0.133734130760</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Sempra</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>Sempra</title>
        <cusip>816851109</cusip>
        <identifiers>
          <isin value="US8168511090"/>
          <ticker value="SRE"/>
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        <balance>72000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6315840.00000000</valUSD>
        <pctVal>0.256251497176</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Perrigo Co PLC</name>
        <lei>549300IFOQS6R1QLY196</lei>
        <title>Perrigo Co PLC</title>
        <cusip>000000000</cusip>
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          <isin value="IE00BGH1M568"/>
          <ticker value="PRGO"/>
          <other otherDesc="SEDOL" value="BGH1M56"/>
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        <balance>106000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2725260.00000000</valUSD>
        <pctVal>0.110571508334</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Hexcel Corp</name>
        <lei>S6Q7LW43WUBUHXY2QP69</lei>
        <title>Hexcel Corp</title>
        <cusip>428291108</cusip>
        <identifiers>
          <isin value="US4282911084"/>
          <ticker value="HXL"/>
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        <balance>37000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2319900.00000000</valUSD>
        <pctVal>0.094124906315</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UL Solutions Inc</name>
        <lei>549300F7CUV5ESKV9P71</lei>
        <title>UL Solutions Inc</title>
        <cusip>903731107</cusip>
        <identifiers>
          <isin value="US9037311076"/>
          <ticker value="ULS"/>
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        <balance>71000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3541480.00000000</valUSD>
        <pctVal>0.143687862932</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Check Point Software Technolog</name>
        <lei>2549003ZVBH73EPNS513</lei>
        <title>Check Point Software Technologies Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0010824113"/>
          <ticker value="CHKP"/>
          <other otherDesc="SEDOL" value="2181334"/>
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        <balance>4000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>746800.00000000</valUSD>
        <pctVal>0.030299788799</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Cullen/Frost Bankers Inc</name>
        <lei>529900V2E9G9AY665O34</lei>
        <title>Cullen/Frost Bankers Inc</title>
        <cusip>229899109</cusip>
        <identifiers>
          <isin value="US2298991090"/>
          <ticker value="CFR"/>
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        <balance>18200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2443350.00000000</valUSD>
        <pctVal>0.099133622072</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Apple Inc</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>Apple Inc</title>
        <cusip>037833100</cusip>
        <identifiers>
          <isin value="US0378331005"/>
          <ticker value="AAPL"/>
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        <balance>110550.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>27683931.00000000</valUSD>
        <pctVal>1.123215402304</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Kikkoman Corp</name>
        <lei>529900T9K5UH9HXOND47</lei>
        <title>Kikkoman Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3240400006"/>
          <ticker value="2801"/>
          <other otherDesc="SEDOL" value="6490809"/>
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        <balance>1600000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NVIDIA Corp</name>
        <lei>549300S4KLFTLO7GSQ80</lei>
        <title>NVIDIA Corp</title>
        <cusip>67066G104</cusip>
        <identifiers>
          <isin value="US67066G1040"/>
          <ticker value="NVDA"/>
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        <balance>214500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28805205.00000000</valUSD>
        <pctVal>1.168708660722</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PayPal Holdings Inc</name>
        <lei>5493005X2GO78EFZ3E94</lei>
        <title>PayPal Holdings Inc</title>
        <cusip>70450Y103</cusip>
        <identifiers>
          <isin value="US70450Y1038"/>
          <ticker value="PYPL"/>
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        <balance>5000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>426750.00000000</valUSD>
        <pctVal>0.017314454834</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Travel + Leisure Co</name>
        <lei>T4VNTWMFQ7JQB65L7T35</lei>
        <title>Travel + Leisure Co</title>
        <cusip>894164102</cusip>
        <identifiers>
          <isin value="US8941641024"/>
          <ticker value="TNL"/>
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        <balance>7000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>353150.00000000</valUSD>
        <pctVal>0.014328294609</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ServiceNow Inc</name>
        <lei>549300HJTQM36M0E1G39</lei>
        <title>ServiceNow Inc</title>
        <cusip>81762P102</cusip>
        <identifiers>
          <isin value="US81762P1021"/>
          <ticker value="NOW"/>
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        <balance>7400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7844888.00000000</valUSD>
        <pctVal>0.318289300423</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ito En Ltd</name>
        <lei>N/A</lei>
        <title>Ito En Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3143000002"/>
          <ticker value="2593"/>
          <other otherDesc="SEDOL" value="6455789"/>
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        <balance>260000.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="157.34500000"/>
        <valUSD>5847913.82000000</valUSD>
        <pctVal>0.237266408227</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Viatris Inc</name>
        <lei>254900ZZTSW7NL773X71</lei>
        <title>Viatris Inc</title>
        <cusip>92556V106</cusip>
        <identifiers>
          <isin value="US92556V1061"/>
          <ticker value="VTRS"/>
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        <balance>25000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>311250.00000000</valUSD>
        <pctVal>0.012628293068</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EXOR NV</name>
        <lei>5493002ENHZ6NYET7405</lei>
        <title>EXOR NV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL0012059018"/>
          <ticker value="EXO"/>
          <other otherDesc="SEDOL" value="BMJ1825"/>
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        <balance>11000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.96539074"/>
        <valUSD>1008969.69000000</valUSD>
        <pctVal>0.040936754836</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Seven &amp; i Holdings Co Ltd</name>
        <lei>52990037G8JRM3TWGY86</lei>
        <title>Seven &amp; i Holdings Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3422950000"/>
          <ticker value="3382"/>
          <other otherDesc="SEDOL" value="B0FS5D6"/>
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        <balance>348000.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="157.34500000"/>
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        <pctVal>0.223170802038</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>QuidelOrtho Corp</name>
        <lei>549300YU8CMO9HF53113</lei>
        <title>QuidelOrtho Corp</title>
        <cusip>219798105</cusip>
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          <isin value="US2197981051"/>
          <ticker value="QDEL"/>
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        <balance>25930.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1155181.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>American Outdoor Brands Inc</name>
        <lei>N/A</lei>
        <title>American Outdoor Brands Inc</title>
        <cusip>02875D109</cusip>
        <identifiers>
          <isin value="US02875D1090"/>
          <ticker value="AOUT"/>
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        <balance>10555.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>160858.20000000</valUSD>
        <pctVal>0.006526472263</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Owens &amp; Minor Inc</name>
        <lei>549300LMT5KQQXCEZ733</lei>
        <title>Owens &amp; Minor Inc</title>
        <cusip>690732102</cusip>
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          <isin value="US6907321029"/>
          <ticker value="OMI"/>
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        <balance>130000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1699100.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>General Motors Co</name>
        <lei>54930070NSV60J38I987</lei>
        <title>General Motors Co</title>
        <cusip>37045V100</cusip>
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          <isin value="US37045V1008"/>
          <ticker value="GM"/>
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        <balance>77500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4128425.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Texas Instruments Inc</name>
        <lei>WDJNR2L6D8RWOEB8T652</lei>
        <title>Texas Instruments Inc</title>
        <cusip>882508104</cusip>
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          <isin value="US8825081040"/>
          <ticker value="TXN"/>
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        <balance>90200.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>16913402.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Waste Management Inc</name>
        <lei>549300YX8JIID70NFS41</lei>
        <title>Waste Management Inc</title>
        <cusip>94106L109</cusip>
        <identifiers>
          <isin value="US94106L1098"/>
          <ticker value="WM"/>
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        <balance>97100.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>19593809.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Crane Co</name>
        <lei>5493000CQRQOTHUODL75</lei>
        <title>Crane Co</title>
        <cusip>224408104</cusip>
        <identifiers>
          <isin value="US2244081046"/>
          <ticker value="CR"/>
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        <balance>14800.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2245900.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>St Joe Co/The</name>
        <lei>529900XVHOT3BF8PWG49</lei>
        <title>St Joe Co/The</title>
        <cusip>790148100</cusip>
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          <ticker value="JOE"/>
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        <balance>2000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>89860.00000000</valUSD>
        <pctVal>0.003645874426</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Honeywell International Inc</name>
        <lei>ISRPG12PN4EIEOEMW547</lei>
        <title>Honeywell International Inc</title>
        <cusip>438516106</cusip>
        <identifiers>
          <isin value="US4385161066"/>
          <ticker value="HON"/>
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        <balance>176300.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>39824407.00000000</valUSD>
        <pctVal>1.615788860695</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>Arista Networks Inc</name>
        <lei>635400H1WKBLOQERUU95</lei>
        <title>Arista Networks Inc</title>
        <cusip>040413205</cusip>
        <identifiers>
          <isin value="US0404132054"/>
          <ticker value="ANET"/>
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        <balance>96000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10610880.00000000</valUSD>
        <pctVal>0.430513421233</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>Marubeni Corp</name>
        <lei>4P4N3ORD02UGQT1T1W12</lei>
        <title>Marubeni Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3877600001"/>
          <ticker value="8002"/>
          <other otherDesc="SEDOL" value="6569464"/>
        </identifiers>
        <balance>12000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="157.34500000"/>
        <valUSD>182465.28000000</valUSD>
        <pctVal>0.007403132628</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EchoStar Corp</name>
        <lei>549300EE20907QZ9GT38</lei>
        <title>EchoStar Corp</title>
        <cusip>278768106</cusip>
        <identifiers>
          <isin value="US2787681061"/>
          <ticker value="SATS"/>
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        <balance>22000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>503800.00000000</valUSD>
        <pctVal>0.020440591319</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>Kimball Electronics Inc</name>
        <lei>549300COBYN2GZCBIU87</lei>
        <title>Kimball Electronics Inc</title>
        <cusip>49428J109</cusip>
        <identifiers>
          <isin value="US49428J1097"/>
          <ticker value="KE"/>
        </identifiers>
        <balance>10025.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>187768.25000000</valUSD>
        <pctVal>0.007618289124</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>Algonquin Power &amp; Utilities Co</name>
        <lei>549300K5VIUTJXQL7X75</lei>
        <title>Algonquin Power &amp; Utilities Corp</title>
        <cusip>015857105</cusip>
        <identifiers>
          <isin value="CA0158571053"/>
          <ticker value="AQN"/>
        </identifiers>
        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>222500.00000000</valUSD>
        <pctVal>0.009027454482</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vodafone Group PLC</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>Vodafone Group PLC</title>
        <cusip>92857W308</cusip>
        <identifiers>
          <isin value="US92857W3088"/>
          <ticker value="VOD"/>
        </identifiers>
        <balance>149600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1270104.00000000</valUSD>
        <pctVal>0.051531712578</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Paramount Global</name>
        <lei>5KYC8KF17ROCY24M3H09</lei>
        <title>Paramount Global</title>
        <cusip>92556H206</cusip>
        <identifiers>
          <isin value="US92556H2067"/>
          <ticker value="PARA"/>
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        <balance>210000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2196600.00000000</valUSD>
        <pctVal>0.089122276482</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Ford Motor Co</name>
        <lei>20S05OYHG0MQM4VUIC57</lei>
        <title>Ford Motor Co</title>
        <cusip>345370860</cusip>
        <identifiers>
          <isin value="US3453708600"/>
          <ticker value="F"/>
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        <balance>45500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>450450.00000000</valUSD>
        <pctVal>0.018276030884</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>Stryker Corp</name>
        <lei>5493002F0SC4JTBU5137</lei>
        <title>Stryker Corp</title>
        <cusip>863667101</cusip>
        <identifiers>
          <isin value="US8636671013"/>
          <ticker value="SYK"/>
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        <balance>31400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11305570.00000000</valUSD>
        <pctVal>0.458698959906</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>Tennant Co</name>
        <lei>JYAIRLT8DVP6DP8UT336</lei>
        <title>Tennant Co</title>
        <cusip>880345103</cusip>
        <identifiers>
          <isin value="US8803451033"/>
          <ticker value="TNC"/>
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        <balance>1500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>122295.00000000</valUSD>
        <pctVal>0.004961854139</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>J M Smucker Co/The</name>
        <lei>5493000WDH6A0LHDJD55</lei>
        <title>J M Smucker Co/The</title>
        <cusip>832696405</cusip>
        <identifiers>
          <isin value="US8326964058"/>
          <ticker value="SJM"/>
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        <balance>5150.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>567118.00000000</valUSD>
        <pctVal>0.023009581714</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>Lockheed Martin Corp</name>
        <lei>DPRBOZP0K5RM2YE8UU08</lei>
        <title>Lockheed Martin Corp</title>
        <cusip>539830109</cusip>
        <identifiers>
          <isin value="US5398301094"/>
          <ticker value="LMT"/>
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        <balance>4000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1943760.00000000</valUSD>
        <pctVal>0.078863842363</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>Diageo PLC</name>
        <lei>213800ZVIELEA55JMJ32</lei>
        <title>Diageo PLC</title>
        <cusip>25243Q205</cusip>
        <identifiers>
          <isin value="US25243Q2057"/>
          <ticker value="DEO"/>
        </identifiers>
        <balance>116650.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14829714.50000000</valUSD>
        <pctVal>0.601683472559</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CITIGROUP INC</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup Inc</title>
        <cusip>172967MV0</cusip>
        <identifiers>
          <isin value="US172967MV07"/>
          <other otherDesc="SEDOL" value="BMC9RY1"/>
        </identifiers>
        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1460130.26000000</valUSD>
        <pctVal>0.059241615556</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GCI LIBERTY INC</name>
        <lei>N/A</lei>
        <title>GCI LIBERTY INC ESCROW SHARE</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="GLIBA"/>
          <other otherDesc="INTERNAL" value="361ESC049"/>
        </identifiers>
        <balance>62279.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>0.62000000</valUSD>
        <pctVal>0.000000025155</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TE Connectivity PLC</name>
        <lei>6367003TB6K484NFHE54</lei>
        <title>TE Connectivity PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE000IVNQZ81"/>
          <ticker value="TEL"/>
          <other otherDesc="SEDOL" value="BRC3N84"/>
        </identifiers>
        <balance>37000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5289890.00000000</valUSD>
        <pctVal>0.214625803123</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Oshkosh Corp</name>
        <lei>549300FEKNPCFSA2B506</lei>
        <title>Oshkosh Corp</title>
        <cusip>688239201</cusip>
        <identifiers>
          <isin value="US6882392011"/>
          <ticker value="OSK"/>
        </identifiers>
        <balance>16000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1521120.00000000</valUSD>
        <pctVal>0.061716141856</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Davide Campari-Milano NV</name>
        <lei>213800ED5AN2J56N6Z02</lei>
        <title>Davide Campari-Milano NV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL0015435975"/>
          <ticker value="CPR"/>
          <other otherDesc="SEDOL" value="BMQ5W17"/>
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        <balance>1900000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.96539074"/>
        <valUSD>11844116.07000000</valUSD>
        <pctVal>0.480549297587</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>nVent Electric PLC</name>
        <lei>N/A</lei>
        <title>nVent Electric PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE00BDVJJQ56"/>
          <ticker value="NVT"/>
          <other otherDesc="SEDOL" value="BDVJJQ5"/>
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        <balance>10000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>681600.00000000</valUSD>
        <pctVal>0.027654440339</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS GROUP INC</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group Inc/The</title>
        <cusip>38144GAG6</cusip>
        <identifiers>
          <isin value="US38144GAG64"/>
          <other otherDesc="SEDOL" value="BMD9ZH9"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>957902.80000000</valUSD>
        <pctVal>0.038864826634</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.65000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Fortrea Holdings Inc</name>
        <lei>5493000FIVFABOVCDU97</lei>
        <title>Fortrea Holdings Inc</title>
        <cusip>34965K107</cusip>
        <identifiers>
          <isin value="US34965K1079"/>
          <ticker value="FTRE"/>
        </identifiers>
        <balance>24500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>456925.00000000</valUSD>
        <pctVal>0.018538739953</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>Janus Henderson Group PLC</name>
        <lei>2138009WPYMWJN3RVF44</lei>
        <title>Janus Henderson Group PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JE00BYPZJM29"/>
          <ticker value="JHG"/>
          <other otherDesc="SEDOL" value="BYPZJQ6"/>
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        <balance>5600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>238168.00000000</valUSD>
        <pctVal>0.009663149569</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Madison Square Garden Sports C</name>
        <lei>N/A</lei>
        <title>Madison Square Garden Sports Corp</title>
        <cusip>55825T103</cusip>
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      <invstOrSec>
        <name>PACCAR Inc</name>
        <lei>KDTEY8BWE486IKZ3CC07</lei>
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        <assetCat>EC</assetCat>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ALLETE Inc</name>
        <lei>549300NNLSIMY6Z8OT86</lei>
        <title>ALLETE Inc</title>
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          <ticker value="ALE"/>
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      <invstOrSec>
        <name>CVS Health Corp</name>
        <lei>549300EJG376EN5NQE29</lei>
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      <invstOrSec>
        <name>Occidental Petroleum Corp</name>
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          <ticker value="OXY"/>
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        <assetCat>EC</assetCat>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Monro Inc</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Cigna Group/The</name>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Rush Enterprises Inc</name>
        <lei>529900V3XHTN7A6DFT17</lei>
        <title>Rush Enterprises Inc</title>
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        <curCd>USD</curCd>
        <valUSD>3062250.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Becton Dickinson &amp; Co</name>
        <lei>ICE2EP6D98PQUILVRZ91</lei>
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          <isin value="US0758871091"/>
          <ticker value="BDX"/>
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        <curCd>USD</curCd>
        <valUSD>3970225.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Brookfield Asset Management Lt</name>
        <lei>549300CZ84WPNJZKY093</lei>
        <title>Brookfield Asset Management Ltd</title>
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          <isin value="CA1130041058"/>
          <ticker value="BAM"/>
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        <invCountry>CA</invCountry>
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      <invstOrSec>
        <name>Franco-Nevada Corp</name>
        <lei>98450064C1B5D3E94864</lei>
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        <name>Arthur J Gallagher &amp; Co</name>
        <lei>54930049QLLMPART6V29</lei>
        <title>Arthur J Gallagher &amp; Co</title>
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          <ticker value="AJG"/>
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        <name>Invesco Ltd</name>
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        <title>Invesco Ltd</title>
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          <ticker value="IVZ"/>
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        <name>RTX Corp</name>
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        <name>T Rowe Price Group Inc</name>
        <lei>549300SIV6FPS9Y7IH33</lei>
        <title>T Rowe Price Group Inc</title>
        <cusip>74144T108</cusip>
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          <isin value="US74144T1088"/>
          <ticker value="TROW"/>
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        <balance>122500.00000000</balance>
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        <valUSD>13853525.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <name>Embraer SA</name>
        <lei>549300EM51WYXFHUY333</lei>
        <title>Embraer SA</title>
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          <ticker value="ERJ"/>
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        <balance>1000.00000000</balance>
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        <valUSD>36680.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>BR</invCountry>
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        <name>COMERICA INC</name>
        <lei>I9Q57JVPWHHZ3ZGBW498</lei>
        <title>Comerica Inc</title>
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        <name>Vivendi SE</name>
        <lei>969500FU4DRAEVJW7U54</lei>
        <title>Vivendi SE</title>
        <cusip>000000000</cusip>
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          <ticker value="VIV"/>
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        <name>ENSTAR GROUP LTD</name>
        <lei>213800AMAL5QFXVUCN04</lei>
        <title>Enstar Group Ltd</title>
        <cusip>29359U208</cusip>
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          <ticker value="ESGR"/>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

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        <name>Marathon Petroleum Corp</name>
        <lei>3BNYRYQHD39K4LCKQF12</lei>
        <title>Marathon Petroleum Corp</title>
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          <ticker value="MPC"/>
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      <invstOrSec>
        <name>Keurig Dr Pepper Inc</name>
        <lei>DYTQ8KRTKO7Y2BVU5K74</lei>
        <title>Keurig Dr Pepper Inc</title>
        <cusip>49271V100</cusip>
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          <ticker value="KDP"/>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Cannae Holdings Inc</name>
        <lei>549300OGRF1ICI7D2V77</lei>
        <title>Cannae Holdings Inc</title>
        <cusip>13765N107</cusip>
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          <isin value="US13765N1072"/>
          <ticker value="CNNE"/>
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        <balance>14000.00000000</balance>
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        <valUSD>278040.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Barrick Gold Corp</name>
        <lei>0O4KBQCJZX82UKGCBV73</lei>
        <title>Barrick Gold Corp</title>
        <cusip>067901108</cusip>
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          <isin value="CA0679011084"/>
          <ticker value="GOLD"/>
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        <balance>124190.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1924945.00000000</valUSD>
        <pctVal>0.078100464583</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Essential Utilities Inc</name>
        <lei>549300ILTEOF3E3QY357</lei>
        <title>Essential Utilities Inc</title>
        <cusip>29670G102</cusip>
        <identifiers>
          <isin value="US29670G1022"/>
          <ticker value="WTRG"/>
        </identifiers>
        <balance>53000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1924960.00000000</valUSD>
        <pctVal>0.078101073175</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>Nestle SA</name>
        <lei>KY37LUS27QQX7BB93L28</lei>
        <title>Nestle SA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CH0038863350"/>
          <ticker value="NESN"/>
          <other otherDesc="SEDOL" value="7123870"/>
        </identifiers>
        <balance>24000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.90755000"/>
        <valUSD>1980188.42000000</valUSD>
        <pctVal>0.080341846423</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Rubrik Inc</name>
        <lei>N/A</lei>
        <title>Rubrik Inc</title>
        <cusip>781154109</cusip>
        <identifiers>
          <isin value="US7811541090"/>
          <ticker value="RBRK"/>
        </identifiers>
        <balance>1000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>65360.00000000</valUSD>
        <pctVal>0.002651840112</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>Endeavour Mining PLC</name>
        <lei>529900NI5MXQ91GHXR07</lei>
        <title>Endeavour Mining PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BL6K5J42"/>
          <ticker value="EDV"/>
          <other otherDesc="SEDOL" value="BN7KJJ5"/>
        </identifiers>
        <balance>14000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.43745000"/>
        <valUSD>253713.17000000</valUSD>
        <pctVal>0.010293861096</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STATE STREET CORP</name>
        <lei>549300ZFEEJ2IP5VME73</lei>
        <title>State Street Corp</title>
        <cusip>857477855</cusip>
        <identifiers>
          <isin value="US8574778556"/>
          <ticker value="STT"/>
        </identifiers>
        <balance>14616.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>343329.84000000</valUSD>
        <pctVal>0.013929862935</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</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>2025-02-28</ncom:dateSigned>
      <ncom:nameOfApplicant>Gabelli Dividend &amp; Income Trust</ncom:nameOfApplicant>
      <ncom:signature>John C. Ball</ncom:signature>
      <ncom:signerName>John C. Ball</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
