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      <regStreet1>300 First Stamford Pl</regStreet1>
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        <name>Adobe Inc</name>
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        <name>Advance Auto Parts Inc.</name>
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        <name>American Axle &amp; Manufacturing Holdings Inc.</name>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Doximity Inc</name>
        <lei>N/A</lei>
        <title>Doximity, Inc. </title>
        <cusip>26622P107</cusip>
        <identifiers>
          <isin value="US26622P1075"/>
        </identifiers>
        <balance>-19541.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-732201.27000000</valUSD>
        <pctVal>-0.17666478400</pctVal>
        <payoffProfile>Short</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>Evercore Inc</name>
        <lei>529900P6KLPT95DW3W58</lei>
        <title>Evercore, Inc. </title>
        <cusip>29977A105</cusip>
        <identifiers>
          <isin value="US29977A1051"/>
        </identifiers>
        <balance>21703.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7667018.81000000</valUSD>
        <pctVal>1.849890566330</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>Evergy Inc</name>
        <lei>549300PGTHDQY6PSUI61</lei>
        <title>Evergy, Inc. </title>
        <cusip>30034W106</cusip>
        <identifiers>
          <isin value="US30034W1062"/>
        </identifiers>
        <balance>152241.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11681451.93000000</valUSD>
        <pctVal>2.818488940990</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>First American Financial Corporation</name>
        <lei>549300B6VEZK3N0A1P55</lei>
        <title>First American Financial Corporation </title>
        <cusip>31847R102</cusip>
        <identifiers>
          <isin value="US31847R1023"/>
        </identifiers>
        <balance>107765.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6808592.70000000</valUSD>
        <pctVal>1.642770380227</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>First Interstate Bancsystem Inc.</name>
        <lei>549300WRWYTYX0RCNJ43</lei>
        <title>First Interstate BancSystem, Inc. </title>
        <cusip>32055Y201</cusip>
        <identifiers>
          <isin value="US32055Y2019"/>
        </identifiers>
        <balance>348744.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12369949.68000000</valUSD>
        <pctVal>2.984608983764</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>Floor And Decor Holding Inc.</name>
        <lei>549300M5FR3N688XGQ36</lei>
        <title>Floor &amp; Decor Holdings, Inc. </title>
        <cusip>339750101</cusip>
        <identifiers>
          <isin value="US3397501012"/>
        </identifiers>
        <balance>54749.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3611244.04000000</valUSD>
        <pctVal>0.871317320051</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>Fulton Financial Corporation</name>
        <lei>5493005QLZ6O1BNC0C11</lei>
        <title>Fulton Financial Corporation </title>
        <cusip>360271100</cusip>
        <identifiers>
          <isin value="US3602711000"/>
        </identifiers>
        <balance>-220196.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-4547047.40000000</valUSD>
        <pctVal>-1.09710701099</pctVal>
        <payoffProfile>Short</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>Hancock Whitney Corporation</name>
        <lei>549300GRNBWY8HIICT41</lei>
        <title>Hancock Whitney Corporation </title>
        <cusip>410120109</cusip>
        <identifiers>
          <isin value="US4101201097"/>
        </identifiers>
        <balance>-66264.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-4558963.20000000</valUSD>
        <pctVal>-1.09998204320</pctVal>
        <payoffProfile>Short</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>Hayward Holdings Inc</name>
        <lei>N/A</lei>
        <title>Hayward Holdings, Inc. </title>
        <cusip>421298100</cusip>
        <identifiers>
          <isin value="US4212981009"/>
        </identifiers>
        <balance>735928.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11877877.92000000</valUSD>
        <pctVal>2.865882405763</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>HUB Group Inc</name>
        <lei>N/A</lei>
        <title>Hub Group, Inc. </title>
        <cusip>443320106</cusip>
        <identifiers>
          <isin value="US4433201062"/>
        </identifiers>
        <balance>357776.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17022982.08000000</valUSD>
        <pctVal>4.107287948678</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>Intuit Inc</name>
        <lei>VI90HBPH7XSFMB9E4M29</lei>
        <title>Intuit, Inc. </title>
        <cusip>461202103</cusip>
        <identifiers>
          <isin value="US4612021034"/>
        </identifiers>
        <balance>-1969.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-982373.48000000</valUSD>
        <pctVal>-0.23702608253</pctVal>
        <payoffProfile>Short</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>Knowles Corporation</name>
        <lei>5493003EO323TDZQU148</lei>
        <title>Knowles Corporation </title>
        <cusip>49926D109</cusip>
        <identifiers>
          <isin value="US49926D1090"/>
        </identifiers>
        <balance>480352.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11643732.48000000</valUSD>
        <pctVal>2.809388030134</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>The Kroger Co.</name>
        <lei>6CPEOKI6OYJ13Q6O7870</lei>
        <title>Kroger Company (The) </title>
        <cusip>501044101</cusip>
        <identifiers>
          <isin value="US5010441013"/>
        </identifiers>
        <balance>-86704.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-5449346.40000000</valUSD>
        <pctVal>-1.31481280375</pctVal>
        <payoffProfile>Short</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>Lending Club Corporation</name>
        <lei>549300YC50YO7Y1OJR92</lei>
        <title>LendingClub Corporation </title>
        <cusip>52603A208</cusip>
        <identifiers>
          <isin value="US52603A2087"/>
        </identifiers>
        <balance>528470.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8936427.70000000</valUSD>
        <pctVal>2.156172263117</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>Lowes Companies, Inc.</name>
        <lei>WAFCR4OKGSC504WU3E95</lei>
        <title>Lowe's Companies, Inc. </title>
        <cusip>548661107</cusip>
        <identifiers>
          <isin value="US5486611073"/>
        </identifiers>
        <balance>-7537.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-2012831.22000000</valUSD>
        <pctVal>-0.48565388683</pctVal>
        <payoffProfile>Short</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>MGM Resorts International</name>
        <lei>54930066VBP7DZEGGJ87</lei>
        <title>MGM Resorts International </title>
        <cusip>552953101</cusip>
        <identifiers>
          <isin value="US5529531015"/>
        </identifiers>
        <balance>-60762.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-2037957.48000000</valUSD>
        <pctVal>-0.49171632550</pctVal>
        <payoffProfile>Short</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>MKS Inc.</name>
        <lei>549300KEQATBHAGVF505</lei>
        <title>MKS, Inc. </title>
        <cusip>55306N104</cusip>
        <identifiers>
          <isin value="US55306N1046"/>
        </identifiers>
        <balance>76966.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18118566.06000000</valUSD>
        <pctVal>4.371629346482</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>Madden(Steven)Ltd.</name>
        <lei>549300Z9GZ7GYJWSGF43</lei>
        <title>Steven Madden Ltd. </title>
        <cusip>556269108</cusip>
        <identifiers>
          <isin value="US5562691080"/>
        </identifiers>
        <balance>295257.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12955877.16000000</valUSD>
        <pctVal>3.125980975234</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>Mobileye Global Inc</name>
        <lei>N/A</lei>
        <title>Mobileye Global, Inc. </title>
        <cusip>60741F104</cusip>
        <identifiers>
          <isin value="US60741F1049"/>
        </identifiers>
        <balance>615342.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5525771.16000000</valUSD>
        <pctVal>1.333252492775</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Money Market Obligations Trust</name>
        <lei>25490005VWJDWX717014</lei>
        <title>Federated Hermes Treasury Oligations Fund </title>
        <cusip>60934N500</cusip>
        <identifiers>
          <isin value="US60934N5005"/>
        </identifiers>
        <balance>28207564.73000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>28207564.73000000</valUSD>
        <pctVal>6.805892770880</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Phreesia Inc</name>
        <lei>5493000HHF8NU4QOCG53</lei>
        <title>Phreesia, Inc. </title>
        <cusip>71944F106</cusip>
        <identifiers>
          <isin value="US71944F1066"/>
        </identifiers>
        <balance>-73862.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-991966.66000000</valUSD>
        <pctVal>-0.23934071533</pctVal>
        <payoffProfile>Short</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>Range Resources Corp.</name>
        <lei>H3Y3WLYCX0BTO1TRW162</lei>
        <title>Range Resources Corporation </title>
        <cusip>75281A109</cusip>
        <identifiers>
          <isin value="US75281A1097"/>
        </identifiers>
        <balance>305402.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11559465.70000000</valUSD>
        <pctVal>2.789056226438</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>Regal Rexnord Corporation</name>
        <lei>QH78R09VCJGQKPBPYU33</lei>
        <title>Regal Rexnord Corporation </title>
        <cusip>758750103</cusip>
        <identifiers>
          <isin value="US7587501039"/>
        </identifiers>
        <balance>80819.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13052268.50000000</valUSD>
        <pctVal>3.149238180539</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>Salesforce Inc.</name>
        <lei>RCGZFPDMRW58VJ54VR07</lei>
        <title>Salesforce, Inc. </title>
        <cusip>79466L302</cusip>
        <identifiers>
          <isin value="US79466L3024"/>
        </identifiers>
        <balance>-4666.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-990545.14000000</valUSD>
        <pctVal>-0.23899773241</pctVal>
        <payoffProfile>Short</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>Silicon Motion Technology Corp.</name>
        <lei>5299005RBVBZQJTYFC89</lei>
        <title>Silicon Motion Technology Corporation </title>
        <cusip>82706C108</cusip>
        <identifiers>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Champion Homes Inc.</name>
        <lei>N/A</lei>
        <title>Champion Homes, Inc. </title>
        <cusip>830830105</cusip>
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          <isin value="US8308301055"/>
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        <balance>210329.00000000</balance>
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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>Snowflake Inc</name>
        <lei>254900CJNSY1K7T53Z16</lei>
        <title>Snowflake, Inc. </title>
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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>Starbucks Corp.</name>
        <lei>OQSJ1DU9TAOC51A47K68</lei>
        <title>Starbucks Corporation </title>
        <cusip>855244109</cusip>
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        <balance>-30863.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sun Communities, Inc.</name>
        <lei>549300H5GEOJYN41ZG57</lei>
        <title>Sun Communities, Inc. </title>
        <cusip>866674104</cusip>
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          <isin value="US8666741041"/>
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        <balance>56826.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Teledyne Technologies Inc</name>
        <lei>549300VSMO9KYQWDND94</lei>
        <title>Teledyne Technologies, Inc. </title>
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          <isin value="US8793601050"/>
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        <balance>18364.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TETRA Technologies Inc.</name>
        <lei>549300T5W131705EK832</lei>
        <title>TETRA Technologies, Inc. </title>
        <cusip>88162F105</cusip>
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          <isin value="US88162F1057"/>
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        <balance>777557.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tractor Supply Co</name>
        <lei>549300OJ9VZHZRO6I137</lei>
        <title>Tractor Supply Company </title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Urban Outfitters Inc.</name>
        <lei>549300N3DUFR5U6NRN38</lei>
        <title>Urban Outfitters, Inc. </title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>V.F. Corp</name>
        <lei>CWAJJ9DJ5Z7P057HV541</lei>
        <title>VF Corporation </title>
        <cusip>918204108</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Vail Resorts, Inc.</name>
        <lei>529900PSZHRNU9HKH870</lei>
        <title>Vail Resorts, Inc. </title>
        <cusip>91879Q109</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Victorias Secret and Co</name>
        <lei>5493006T3O70U3UWVF17</lei>
        <title>Victoria's Secret &amp; Company </title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Vontier Corporation</name>
        <lei>549300VVSQLG4P5K4639</lei>
        <title>Vontier Corporation </title>
        <cusip>928881101</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Waystar Holding Corp</name>
        <lei>N/A</lei>
        <title>Waystar Holding Corporation </title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>WillScot Holdings Corporation</name>
        <lei>549300HJ4VIXF476Q166</lei>
        <title>WillScot Holdings Corporation </title>
        <cusip>971378104</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Workday Inc</name>
        <lei>549300J0DYC0N31V7G13</lei>
        <title>Workday, Inc. </title>
        <cusip>98138H101</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Xylem, Inc.</name>
        <lei>549300DF5MV96DRYLQ48</lei>
        <title>Xylem Inc </title>
        <cusip>98419M100</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Zoominfo Technologies Inc</name>
        <lei>2549008GSAHW4UWFEM58</lei>
        <title>ZoomInfo Technologies, Inc. </title>
        <cusip>98980F104</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Gates Industrial Corp PLC</name>
        <lei>549300S6K4FWUSB9KM27</lei>
        <title>Gates Industrial Corp plc </title>
        <cusip>G39108108</cusip>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Rezolve AI PLC</name>
        <lei>2138007EPO6C1AEMWX44</lei>
        <title>Rezolve AI plc </title>
        <cusip>G75398100</cusip>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>On Holding AG</name>
        <lei>506700FB3467B9W95526</lei>
        <title>On Holding A.G. </title>
        <cusip>H5919C104</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>Tower Semiconductor Limited</name>
        <lei>54930086ZSNXZOUX0C54</lei>
        <title>Tower Semiconductor Ltd. </title>
        <cusip>M87915274</cusip>
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        <invCountry>IL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>THE OPTIONS CLEARING CORPORATION</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>Invesco QQQ Trust Series 1 02/13/2026 625 Put</title>
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          <ticker value="QQQ   260213P00625000"/>
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        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>MORGAN STANLEY &amp; CO. INC.</counterpartyName>
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            <writtenOrPur>Purchased</writtenOrPur>
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            <shareNo>100.00000000</shareNo>
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      <invstOrSec>
        <name>MORGAN STANLEY &amp; CO. LLC</name>
        <lei>9R7GPTSO7KV3UQJZQ078</lei>
        <title>Morgan Stanley Custom Swap Index (MSCM1453)</title>
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          <other otherDesc="Internal" value="SMSCM1453"/>
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        <balance>-47537.00000000</balance>
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                    <identifiers>
                      <cusip value="693718108"/>
                    </identifiers>
                    <othIndNotAmt>562.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>69085.00000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Pfizer, Inc.</othIndName>
                    <identifiers>
                      <cusip value="717081103"/>
                    </identifiers>
                    <othIndNotAmt>2656.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>70218.00000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Progressive Corporation (The)</othIndName>
                    <identifiers>
                      <cusip value="743315103"/>
                    </identifiers>
                    <othIndNotAmt>333.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>69229.00000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Ralph Lauren Corporation</othIndName>
                    <identifiers>
                      <cusip value="751212101"/>
                    </identifiers>
                    <othIndNotAmt>195.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>68987.00000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Restaurant Brands International, Inc.</othIndName>
                    <identifiers>
                      <cusip value="76131D103"/>
                    </identifiers>
                    <othIndNotAmt>1027.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>68822.00000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Rockwell Automation, Inc.</othIndName>
                    <identifiers>
                      <cusip value="773903109"/>
                    </identifiers>
                    <othIndNotAmt>162.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>68490.00000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Ross Stores, Inc.</othIndName>
                    <identifiers>
                      <cusip value="778296103"/>
                    </identifiers>
                    <othIndNotAmt>372.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>70114.00000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Salesforce, Inc.</othIndName>
                    <identifiers>
                      <cusip value="79466L302"/>
                    </identifiers>
                    <othIndNotAmt>324.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>68736.00000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Sherwin-Williams Company (The)</othIndName>
                    <identifiers>
                      <cusip value="824348106"/>
                    </identifiers>
                    <othIndNotAmt>195.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>69327.00000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Snowflake, Inc.</othIndName>
                    <identifiers>
                      <cusip value="833445109"/>
                    </identifiers>
                    <othIndNotAmt>348.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>66996.00000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Starbucks Corporation</othIndName>
                    <identifiers>
                      <cusip value="855244109"/>
                    </identifiers>
                    <othIndNotAmt>738.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>67890.00000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Steris Ltd</othIndName>
                    <identifiers>
                      <cusip value="00BFY8C75"/>
                    </identifiers>
                    <othIndNotAmt>265.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>69570.00000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Tapestry, Inc.</othIndName>
                    <identifiers>
                      <cusip value="876030107"/>
                    </identifiers>
                    <othIndNotAmt>544.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>69087.00000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Target Corporation</othIndName>
                    <identifiers>
                      <cusip value="87612E106"/>
                    </identifiers>
                    <othIndNotAmt>674.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>71088.00000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Teva Pharmaceutical Industries Ltd.</othIndName>
                    <identifiers>
                      <cusip value="881624209"/>
                    </identifiers>
                    <othIndNotAmt>2096.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>71432.00000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Tractor Supply Company</othIndName>
                    <identifiers>
                      <cusip value="892356106"/>
                    </identifiers>
                    <othIndNotAmt>1360.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>69206.00000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Ulta Beauty, Inc.</othIndName>
                    <identifiers>
                      <cusip value="90384S303"/>
                    </identifiers>
                    <othIndNotAmt>110.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>71101.00000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>United Parcel Service, Inc.</othIndName>
                    <identifiers>
                      <cusip value="911312106"/>
                    </identifiers>
                    <othIndNotAmt>654.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>69466.00000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>United Therapeutics Corporation</othIndName>
                    <identifiers>
                      <cusip value="91307C102"/>
                    </identifiers>
                    <othIndNotAmt>148.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>69581.00000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>W R Berkley Corporation</othIndName>
                    <identifiers>
                      <cusip value="084423102"/>
                    </identifiers>
                    <othIndNotAmt>1015.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>69640.00000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>WW Grainger, Inc.</othIndName>
                    <identifiers>
                      <cusip value="384802104"/>
                    </identifiers>
                    <othIndNotAmt>64.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>69170.00000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Waters Corporation</othIndName>
                    <identifiers>
                      <cusip value="941848103"/>
                    </identifiers>
                    <othIndNotAmt>185.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>68491.00000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Western Digital Corporation</othIndName>
                    <identifiers>
                      <cusip value="958102105"/>
                    </identifiers>
                    <othIndNotAmt>249.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>62299.00000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Westinghouse Air Brake Technologies Corporation</othIndName>
                    <identifiers>
                      <cusip value="929740108"/>
                    </identifiers>
                    <othIndNotAmt>298.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>68573.00000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Williams-Sonoma, Inc.</othIndName>
                    <identifiers>
                      <cusip value="969904101"/>
                    </identifiers>
                    <othIndNotAmt>337.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>68975.00000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                  <component>
                    <othIndName>Workday, Inc.</othIndName>
                    <identifiers>
                      <cusip value="98138H101"/>
                    </identifiers>
                    <othIndNotAmt>397.00000000</othIndNotAmt>
                    <othIndCurCd>USD</othIndCurCd>
                    <othIndValue>69700.00000000</othIndValue>
                    <othIndIssCurCd>USD</othIndIssCurCd>
                  </component>
                </components>
              </indexBasketInfo>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="Fed Funds" floatingRtSpread="-0.45000000" pmntAmt="4959677.80999999">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="1" resetDt="Month" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingRecDesc>
            <otherPmntDesc fixedOrFloating="Other">Underlying Return</otherPmntDesc>
            <terminationDt>2026-07-31</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-4959677.80999999</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-12556.60000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Capital One Financial Corporation</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corporation - Total Return Swap</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="SW14040H1"/>
        </identifiers>
        <balance>23008.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-91857.60000000</valUSD>
        <pctVal>-0.02216330909</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Capital One Financial Corporation</counterpartyName>
              <counterpartyLei>ZUE8T73ROZOF6FLBAR73</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Capital One Financial Corporation</issuerName>
                <issueTitle>Capital One Financial Corporation</issueTitle>
                <identifiers>
                  <cusip value="14040H105"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Underlying Return</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="Fed Funds" floatingRtSpread="0.65000000" pmntAmt="-5128387.83000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="1" resetDt="Month" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-07-31</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>5128387.83000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-91857.60000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nextera Energy, Inc.</name>
        <lei>254900RHL9MEUS5NKX63</lei>
        <title>NEXTERA ENERGY INC - Total Return Swap</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="SW65339F1"/>
        </identifiers>
        <balance>147404.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>1286889.71000000</valUSD>
        <pctVal>0.310499451407</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Nextera Energy, Inc.</counterpartyName>
              <counterpartyLei>254900RHL9MEUS5NKX63</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Nextera Energy, Inc.</issuerName>
                <issueTitle>Nextera Energy, Inc.</issueTitle>
                <identifiers>
                  <cusip value="65339F101"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Underlying Return</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="Fed Funds" floatingRtSpread="0.65000000" pmntAmt="-11668531.22000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="1" resetDt="Month" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-07-31</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>11668531.22000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>1286889.71000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Schwab (Charles)</name>
        <lei>549300VSGCJ7E698NM85</lei>
        <title>SCHWAB (CHARLES) - Total Return Swap</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="SW8085131"/>
        </identifiers>
        <balance>75361.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>764001.96000000</valUSD>
        <pctVal>0.184337622417</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Schwab (Charles)</counterpartyName>
              <counterpartyLei>549300VSGCJ7E698NM85</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Schwab (Charles)</issuerName>
                <issueTitle>Schwab (Charles)</issueTitle>
                <identifiers>
                  <cusip value="808513105"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <otherRecDesc fixedOrFloating="Other">Underlying Return</otherRecDesc>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="Fed Funds" floatingRtSpread="0.65000000" pmntAmt="-7066670.95000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="1" resetDt="Month" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingPmntDesc>
            <terminationDt>2026-07-31</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>7066670.95000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>764001.96000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>THE OPTIONS CLEARING CORPORATION</name>
        <lei>549300CII6SLYGKNHA04</lei>
        <title>Cboe Volatility Index 02/18/2026 25 Call</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="VIX   260218C00025000"/>
        </identifiers>
        <balance>6903.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>635076.00000000</valUSD>
        <pctVal>0.153230496809</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO. INC.</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>Cboe Volatility Index</indexName>
                <indexIdentifier>VIX Index</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>25.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-02-18</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-6238.25000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-01-31</ncom:dateSigned>
      <ncom:nameOfApplicant>CRM Mutual Fund Trust</ncom:nameOfApplicant>
      <ncom:signature>Zachary Richmond</ncom:signature>
      <ncom:signerName>Zachary Richmond</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
