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      <invstOrSec>
        <name>Manchester United PLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Myers Industries Inc.</name>
        <lei>549300I2H9XMVTCW4Q51</lei>
        <title>Myers Industries Inc. COM</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Paratek Pharmaceuticals CVR</name>
        <lei>N/A</lei>
        <title>Paratek Pharmaceuticals CVR</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Liberty Broadband Corporation</name>
        <lei>549300MIX43II8JLN536</lei>
        <title>Liberty Broadband Corporation COM SER A</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Cross Country Healthcare Inc.</name>
        <lei>54930037L0NBIPZ5S663</lei>
        <title>Cross Country Healthcare Inc. COM</title>
        <cusip>227483104</cusip>
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          <isin value="US2274831047"/>
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        <balance>4000.00000000</balance>
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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>SLB LTD</name>
        <lei>213800ZUA17OK3QLGM62</lei>
        <title>SLB Ltd. COM STK</title>
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          <isin value="AN8068571086"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>CW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MONOGRAM TECHNOLOGIES INC</name>
        <lei>N/A</lei>
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          <ticker value="MGRM"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Portland General Electric Company</name>
        <lei>GJOUP9M7C39GLSK9R870</lei>
        <title>Portland General Electric Company COM NEW</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Altaba Inc Escrow</name>
        <lei>N/A</lei>
        <title>Altaba Inc Escrow</title>
        <cusip>021ESC017</cusip>
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          <isin value="US021ESC0175"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <name>E.W. Scripps Co.</name>
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        <title>E.W. Scripps Co. CL A NEW</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AVADEL PHARMACEUTICALS PLC</name>
        <lei>N/A</lei>
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        <name>DigitalBridge Group Inc</name>
        <lei>549300XG87L902AGBO89</lei>
        <title>DigitalBridge Group Inc CL A NEW</title>
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        <name>California Resources Corporation</name>
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        <name>United States Treasury Bills</name>
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        <title>B 0 05/14/26</title>
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        <fairValLevel>2</fairValLevel>
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        <name>SunocoCorp LLC</name>
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        <title>SunocoCorp LLC COM SHS LLC</title>
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        <name>Velan Inc</name>
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        <title>Velan Inc</title>
        <cusip>922932108</cusip>
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        <invCountry>CA</invCountry>
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        <name>Bang &amp; Olufsen A/S</name>
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          <ticker value="BO"/>
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        <name>Arcellx Inc</name>
        <lei>N/A</lei>
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        <cusip>03940C100</cusip>
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        <name>Nathans Famous Inc</name>
        <lei>54930034SKNSF1JIE673</lei>
        <title>Nathans Famous Inc COM</title>
        <cusip>632347100</cusip>
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          <ticker value="NATH"/>
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      <invstOrSec>
        <name>Alamos Gold Inc.</name>
        <lei>894500GIHFJZW7YS9660</lei>
        <title>Alamos Gold Inc. COM CL A</title>
        <cusip>011532108</cusip>
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          <ticker value="AGI"/>
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        <name>CSG Systems International Inc.</name>
        <lei>549300D7FJZUOHHXUA81</lei>
        <title>CSG Systems International Inc. COM</title>
        <cusip>126349109</cusip>
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        <name>Great Lakes Dredge &amp; Dock Corporation</name>
        <lei>549300H65E3MZ1CX0P05</lei>
        <title>Great Lakes Dredge &amp; Dock Corporation COM</title>
        <cusip>390607109</cusip>
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          <isin value="US3906071093"/>
          <ticker value="GLDD"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Bio-Rad Laboratories, Inc.</name>
        <lei>549300ZC1GPV35XYDK53</lei>
        <title>Bio-Rad Laboratories, Inc. CL A</title>
        <cusip>090572207</cusip>
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          <ticker value="BIO"/>
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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>
      <invstOrSec>
        <name>Oneok Inc.</name>
        <lei>2T3D6M0JSY48PSZI1Q41</lei>
        <title>Oneok Inc. COM</title>
        <cusip>682680103</cusip>
        <identifiers>
          <isin value="US6826801036"/>
          <ticker value="OKE"/>
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        <balance>8200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>741198.00000000</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>Brookfield Asset Management Ltd</name>
        <lei>549300CZ84WPNJZKY093</lei>
        <title>Brookfield Asset Management Ltd CL A LMT VTG SHS</title>
        <cusip>113004105</cusip>
        <identifiers>
          <isin value="CA1130041058"/>
          <ticker value="BAM"/>
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        <balance>800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>35560.00000000</valUSD>
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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>BioCryst Pharmaceuticals Inc.</name>
        <lei>549300Z0INP1Z5NP6J59</lei>
        <title>BioCryst Pharmaceuticals Inc. COM</title>
        <cusip>09058V103</cusip>
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          <isin value="US09058V1035"/>
          <ticker value="BCRX"/>
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        <balance>2360.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>22467.20000000</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>Nilfisk Holding A/S</name>
        <lei>529900FSU45YYVLKB451</lei>
        <title>Nilfisk Holding A/S</title>
        <cusip>000000000</cusip>
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          <isin value="DK0060907293"/>
          <ticker value="NLFSK"/>
          <other otherDesc="SEDOL" value="BZ01ZR9"/>
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        <balance>12000.00000000</balance>
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        <currencyConditional curCd="DKK" exchangeRt="6.46520000"/>
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        <pctVal>0.450923002565</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</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>
      <invstOrSec>
        <name>INTERNATIONAL MONEY EXPRESS INC</name>
        <lei>N/A</lei>
        <title>International Money Express Inc. COM</title>
        <cusip>46005L101</cusip>
        <identifiers>
          <isin value="US46005L1017"/>
          <ticker value="IMXI"/>
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        <balance>14000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>221200.00000000</valUSD>
        <pctVal>0.388286372268</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>Ardagh Metal Packaging S A</name>
        <lei>5493009WKQTU4FN9G032</lei>
        <title>Ardagh Metal Packaging S A SHS</title>
        <cusip>000000000</cusip>
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          <isin value="LU2369833749"/>
          <ticker value="AMBP"/>
          <other otherDesc="SEDOL" value="BMWT6B1"/>
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        <balance>9800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>39690.00000000</valUSD>
        <pctVal>0.069670371226</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Mativ Holdings Inc</name>
        <lei>549300Z1FU4IDULG1R21</lei>
        <title>Mativ Holdings Inc COM</title>
        <cusip>808541106</cusip>
        <identifiers>
          <isin value="US8085411069"/>
          <ticker value="MATV"/>
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        <balance>8200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>71340.00000000</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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FONAR CORP</name>
        <lei>N/A</lei>
        <title>Fonar Corporation COM NEW</title>
        <cusip>344437405</cusip>
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          <isin value="US3444374058"/>
          <ticker value="FONR"/>
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        <balance>500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9280.00000000</valUSD>
        <pctVal>0.016289771856</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>Atlanta Braves Holdings Inc</name>
        <lei>N/A</lei>
        <title>Atlanta Braves Holdings Inc COM SER C</title>
        <cusip>047726302</cusip>
        <identifiers>
          <isin value="US0477263026"/>
          <ticker value="BATRK"/>
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        <balance>7300.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>311710.00000000</valUSD>
        <pctVal>0.547164308770</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>VERVE THERAPEUTICS INC</name>
        <lei>N/A</lei>
        <title>VERVE THERAPEUTICS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="VERV"/>
          <other otherDesc="INTERNAL" value="925CVR011"/>
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        <balance>17000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8500.00000000</valUSD>
        <pctVal>0.014920588446</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</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 COM USD0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0011267213"/>
          <ticker value="SSYS"/>
          <other otherDesc="SEDOL" value="B7WD7D7"/>
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        <balance>30000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>234300.00000000</valUSD>
        <pctVal>0.411281632109</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>
        <name>DAY ONE BIOPHARMACEUTICALS INC</name>
        <lei>N/A</lei>
        <title>Day One Biopharmaceuticals Inc. COM</title>
        <cusip>23954D109</cusip>
        <identifiers>
          <isin value="US23954D1090"/>
          <ticker value="DAWN"/>
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        <balance>200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4288.00000000</valUSD>
        <pctVal>0.007526998030</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>Tredegar Corp.</name>
        <lei>54930003228ERHCH6K87</lei>
        <title>Tredegar Corp. COM</title>
        <cusip>894650100</cusip>
        <identifiers>
          <isin value="US8946501009"/>
          <ticker value="TG"/>
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        <balance>45000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>357750.00000000</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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      <invstOrSec>
        <name>SEMrush Holdings Inc.</name>
        <lei>254900WQEX0OLGK16D27</lei>
        <title>SEMrush Holdings Inc. CL A COM</title>
        <cusip>81686C104</cusip>
        <identifiers>
          <isin value="US81686C1045"/>
          <ticker value="SEMR"/>
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        <balance>40000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>477600.00000000</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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      <invstOrSec>
        <name>SHORE BANCSHARES INC</name>
        <lei>N/A</lei>
        <title>Shore Bancshares Inc. COM</title>
        <cusip>825107105</cusip>
        <identifiers>
          <isin value="US8251071051"/>
          <ticker value="SHBI"/>
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        <balance>7684.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>143537.12000000</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>BLUEPRINT MEDICINES CORP</name>
        <lei>5299004CC60O9T5HVM83</lei>
        <title>Blueprint Medicines Corporation NPV</title>
        <cusip>096CVR048</cusip>
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          <isin value="US096CVR0480"/>
          <ticker value="BPMC"/>
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        <balance>7000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2800.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Core Scientific Inc</name>
        <lei>5299003RGB2LAZ65RK73</lei>
        <title>Core Scientific Inc COM</title>
        <cusip>21874A106</cusip>
        <identifiers>
          <isin value="US21874A1060"/>
          <ticker value="CORZ"/>
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        <balance>200.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2992.00000000</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>First Horizon Corporation</name>
        <lei>TF3RXI1ZB1TQ30H9JV10</lei>
        <title>First Horizon Corporation COM</title>
        <cusip>320517105</cusip>
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          <isin value="US3205171057"/>
          <ticker value="FHN"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>227600.00000000</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>Surgery Partners Inc</name>
        <lei>549300LC82HG33S19I03</lei>
        <title>Surgery Partners Inc COM</title>
        <cusip>86881A100</cusip>
        <identifiers>
          <isin value="US86881A1007"/>
          <ticker value="SGRY"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>119200.00000000</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>Apellis Pharmaceuticals Inc</name>
        <lei>254900HS0ZFRXXSB9D42</lei>
        <title>Apellis Pharmaceuticals Inc COM</title>
        <cusip>03753U106</cusip>
        <identifiers>
          <isin value="US03753U1060"/>
          <ticker value="APLS"/>
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        <balance>10500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>422415.00000000</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>SAGE THERAPEUTICS INC</name>
        <lei>N/A</lei>
        <title>SAGE THERAPEUTICS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="SAGE"/>
          <other otherDesc="INTERNAL" value="786CVR019"/>
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        <balance>5000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1750.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Village Super Market Inc.</name>
        <lei>25490069686XCNNEMQ07</lei>
        <title>Village Super Market Inc. CL A NEW</title>
        <cusip>927107409</cusip>
        <identifiers>
          <isin value="US9271074091"/>
          <ticker value="VLGEA"/>
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        <balance>21600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>912168.00000000</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>Newmont Corporation</name>
        <lei>549300VSP3RIX7FGDZ51</lei>
        <title>Newmont Corporation COM</title>
        <cusip>651639106</cusip>
        <identifiers>
          <isin value="US6516391066"/>
          <ticker value="NEM"/>
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        <balance>2500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>270625.00000000</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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      <invstOrSec>
        <name>Ework Group AB</name>
        <lei>549300WF2ILKHMGV9I45</lei>
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        <cusip>000000000</cusip>
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          <isin value="SE0002402701"/>
          <ticker value="EWRK"/>
          <other otherDesc="SEDOL" value="B2R89B4"/>
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        <balance>2000.00000000</balance>
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        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CAPRI HOLDINGS LTD</name>
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        <title>Capri Holdings Ltd. COM NPV</title>
        <cusip>000000000</cusip>
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          <isin value="VGG1890L1076"/>
          <ticker value="CPRI"/>
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        <balance>6300.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>111006.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>VG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BEL Fuse Inc</name>
        <lei>2549009L4XYDBRRY6X39</lei>
        <title>BEL Fuse Inc CL B</title>
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          <isin value="US0773473006"/>
          <ticker value="BELFB"/>
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        <balance>-1000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-197980.00000000</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>AMBIT BIOSCIENCES CORP CVR</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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        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Kinross Gold Corp.</name>
        <lei>254900O9KHF2A1ZXPT47</lei>
        <title>Kinross Gold Corp. COM NPV</title>
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          <isin value="CA4969024047"/>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Liberty Latin America Ltd</name>
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        <title>Liberty Latin America Ltd COM USD0.01 CL A</title>
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          <isin value="BMG9001E1021"/>
          <ticker value="LILA"/>
          <other otherDesc="SEDOL" value="BD9Q3P5"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>172800.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Brighthouse Financial Inc.</name>
        <lei>5493003T8SZSHOGGAW52</lei>
        <title>Brighthouse Financial Inc. COM</title>
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          <isin value="US10922N1037"/>
          <ticker value="BHF"/>
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        <balance>200.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11976.00000000</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>Pinewood Technologies Group PL</name>
        <lei>213800VRSPZFOGMMIS18</lei>
        <title>Pinewood Technologies Group PLC</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BSB7BS06"/>
          <ticker value="PINE"/>
          <other otherDesc="SEDOL" value="BSB7BS0"/>
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        <balance>25000.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75551526"/>
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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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      <invstOrSec>
        <name>IRobot Corp</name>
        <lei>5493009PRNKOUKBAT390</lei>
        <title>IRobot Corp COM</title>
        <cusip>462726100</cusip>
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          <isin value="US4627261005"/>
          <ticker value="IRBTQ"/>
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        <curCd>USD</curCd>
        <valUSD>108.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Terns Pharmaceuticals Inc.</name>
        <lei>254900S1ZDQMF4MYP709</lei>
        <title>Terns Pharmaceuticals Inc. COM</title>
        <cusip>880881107</cusip>
        <identifiers>
          <isin value="US8808811074"/>
          <ticker value="TERN"/>
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        <balance>5000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>263600.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chinook Therapeutics Inc</name>
        <lei>549300X0O3003W5QYQ48</lei>
        <title>Chinook Therapeutics Inc SHS</title>
        <cusip>169CVR016</cusip>
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          <isin value="US169CVR0169"/>
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        <balance>56000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11200.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Pan American Silver Corp.</name>
        <lei>549300MKTF5851TYIB83</lei>
        <title>Pan American Silver Corp. CONT VALUE RIGHT</title>
        <cusip>697900132</cusip>
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          <isin value="CA6979001329"/>
          <ticker value="PAASF"/>
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        <balance>400000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>240000.00000000</valUSD>
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        <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>PARAGON 28 INC</name>
        <lei>N/A</lei>
        <title>PARAGON 28 INC</title>
        <cusip>609CVR022</cusip>
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          <isin value="US609CVR0225"/>
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        <balance>6000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>300.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Golden Entertainment Inc</name>
        <lei>549300P8YYCKQVJ0Y638</lei>
        <title>Golden Entertainment Inc COM</title>
        <cusip>381013101</cusip>
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          <isin value="US3810131017"/>
          <ticker value="GDEN"/>
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        <balance>5000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>133450.00000000</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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      <invstOrSec>
        <name>Sealed Air Corp.</name>
        <lei>Q0M0CZB4YN6JZ65WXI09</lei>
        <title>Sealed Air Corp. COM</title>
        <cusip>81211K100</cusip>
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          <isin value="US81211K1007"/>
          <ticker value="SEE"/>
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        <balance>17000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>714850.00000000</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>Gen Digital Inc</name>
        <lei>YF6ZV0M6AU4FY94MK914</lei>
        <title>Gen Digital Inc</title>
        <cusip>668771116</cusip>
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          <isin value="US6687711167"/>
          <ticker value="GENVR"/>
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        <balance>4000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1930.80000000</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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        <name>Hexcel Corporation</name>
        <lei>S6Q7LW43WUBUHXY2QP69</lei>
        <title>Hexcel Corporation COM</title>
        <cusip>428291108</cusip>
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          <isin value="US4282911084"/>
          <ticker value="HXL"/>
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        <balance>3600.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>291348.00000000</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>Akero Therapeutics Inc</name>
        <lei>549300SI3KG74LBE2955</lei>
        <title>Akero Therapeutics Inc</title>
        <cusip>009CVR044</cusip>
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          <ticker value="AKRO"/>
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        <curCd>USD</curCd>
        <valUSD>4000.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AKOUOS INC</name>
        <lei>N/A</lei>
        <title>AKOUOS INC</title>
        <cusip>000000000</cusip>
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        <curCd>USD</curCd>
        <valUSD>10000.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Globus Med Inc</name>
        <lei>5299003M2P4CIK0RF205</lei>
        <title>Globus Med Inc CL A</title>
        <cusip>379577208</cusip>
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          <isin value="US3795772082"/>
          <ticker value="GMED"/>
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        <curCd>USD</curCd>
        <valUSD>172320.00000000</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>Veris Residential Inc</name>
        <lei>254900KTVBRYJCQU2J23</lei>
        <title>Veris Residential Inc COM</title>
        <cusip>554489104</cusip>
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          <isin value="US5544891048"/>
          <ticker value="VRE"/>
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        <balance>3500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>66045.00000000</valUSD>
        <pctVal>0.115932972226</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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CONTINGENT VALUE RIGHT</name>
        <lei>N/A</lei>
        <title>CONTINGENT VALUE RIGHT</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="339CVR011"/>
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        <balance>5000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>500.00000000</valUSD>
        <pctVal>0.000877681673</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>OneStream Inc</name>
        <lei>254900CRBCHIYDC37W82</lei>
        <title>OneStream Inc CL A</title>
        <cusip>68278B107</cusip>
        <identifiers>
          <isin value="US68278B1070"/>
          <ticker value="OS"/>
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        <balance>6000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>144000.00000000</valUSD>
        <pctVal>0.252772321911</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>Digi International Inc.</name>
        <lei>529900KG656HGROI4N27</lei>
        <title>Digi International Inc. COM</title>
        <cusip>253798102</cusip>
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          <isin value="US2537981027"/>
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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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      </invstOrSec>
      <invstOrSec>
        <name>Allfunds Group Plc</name>
        <lei>9598005U8TZQ8Q64SC71</lei>
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        <cusip>000000000</cusip>
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          <isin value="GB00BNTJ3546"/>
          <ticker value="ALLFG"/>
          <other otherDesc="SEDOL" value="BNTJ354"/>
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        <balance>1000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Corem Property Group AB</name>
        <lei>213800CHXQQD7TSS1T59</lei>
        <title>Corem Property Group AB SER'B'NPV</title>
        <cusip>000000000</cusip>
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          <isin value="SE0010714287"/>
          <ticker value="COREB"/>
          <other otherDesc="SEDOL" value="BYVWKN5"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Diamond Hill Investment Group Inc.</name>
        <lei>549300AQ6779A0B7VZ57</lei>
        <title>Diamond Hill Investment Group Inc. COM NEW</title>
        <cusip>25264R207</cusip>
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          <isin value="US25264R2076"/>
          <ticker value="DHIL"/>
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        <balance>400.00000000</balance>
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        <curCd>USD</curCd>
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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>POSEIDA THERAPEUTICS INC</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
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          <ticker value="PSTX"/>
          <other otherDesc="INTERNAL" value="737CVR019"/>
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        <balance>4500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2250.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Peakstone Realty Trust</name>
        <lei>549300EZQXWQI2YL1T80</lei>
        <title>Peakstone Realty Trust COMMON SHARES</title>
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          <isin value="US39818P7996"/>
          <ticker value="PKST"/>
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        <balance>3000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>62670.00000000</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>LIBERTY LIVE HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>Liberty Live Holdings Inc. COM SER A</title>
        <cusip>530909100</cusip>
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          <isin value="US5309091008"/>
          <ticker value="LLYVA"/>
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        <balance>128.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11729.92000000</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>SINCLAIR INC</name>
        <lei>N/A</lei>
        <title>Sinclair Inc. CL A</title>
        <cusip>829242106</cusip>
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          <isin value="US8292421067"/>
          <ticker value="SBGI"/>
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        <balance>33000.00000000</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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      <invstOrSec>
        <name>CHAMPION HOMES INC</name>
        <lei>N/A</lei>
        <title>Champion Homes Inc. COM</title>
        <cusip>830830105</cusip>
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          <isin value="US8308301055"/>
          <ticker value="SKY"/>
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        <balance>2000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>148740.00000000</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>Western Midstream Partners LP</name>
        <lei>N/A</lei>
        <title>Western Midstream Partners LP COM UNIT LP INT</title>
        <cusip>958669103</cusip>
        <identifiers>
          <isin value="US9586691035"/>
          <ticker value="WES"/>
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        <balance>3000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>123510.00000000</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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>IHS HOLDING LTD (NEW)</name>
        <lei>213800CLGMKL63VKTD94</lei>
        <title>Ihs Holding Limited ORD SHS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG4701H1092"/>
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          <other otherDesc="SEDOL" value="BMCG0L0"/>
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        <balance>3000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>24690.00000000</valUSD>
        <pctVal>0.043339921027</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</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>SIGILON THERAPEUTICS INC CVR</name>
        <lei>N/A</lei>
        <title>SIGILON THERAPEUTICS INC CVR</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="826CVR037"/>
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        <balance>500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3775.00000000</valUSD>
        <pctVal>0.006626496633</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Liberty Latin America Ltd</name>
        <lei>213800YWQHEAX7CAVO83</lei>
        <title>Liberty Latin America Ltd COM USD0.01 CL C</title>
        <cusip>000000000</cusip>
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          <isin value="BMG9001E1286"/>
          <ticker value="LILAK"/>
          <other otherDesc="SEDOL" value="BD9Q3Q6"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Algonquin Power &amp; Utilities Corporation</name>
        <lei>549300K5VIUTJXQL7X75</lei>
        <title>Algonquin Power &amp; Utilities Corporation COM</title>
        <cusip>015857105</cusip>
        <identifiers>
          <isin value="CA0158571053"/>
          <ticker value="AQN"/>
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        <balance>48000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>294720.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>89BIO INC</name>
        <lei>N/A</lei>
        <title>89BIO INC</title>
        <cusip>000000000</cusip>
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        <balance>5000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1500.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Viatris Inc</name>
        <lei>254900ZZTSW7NL773X71</lei>
        <title>Viatris Inc COM</title>
        <cusip>92556V106</cusip>
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          <isin value="US92556V1061"/>
          <ticker value="VTRS"/>
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        <balance>35200.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>475552.00000000</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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ICU Medical Inc</name>
        <lei>5493003NRW7LS2QZRH60</lei>
        <title>ICU Medical Inc COM</title>
        <cusip>44930G107</cusip>
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          <isin value="US44930G1076"/>
          <ticker value="ICUI"/>
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        <balance>100.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12915.00000000</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>HNI Corp</name>
        <lei>549300SKRADLC4O5HV93</lei>
        <title>HNI Corp COM</title>
        <cusip>404251100</cusip>
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          <isin value="US4042511000"/>
          <ticker value="HNI"/>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Cantaloupe Inc.</name>
        <lei>529900O54DBQQVWO9Q85</lei>
        <title>Cantaloupe Inc. COM</title>
        <cusip>138103106</cusip>
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          <isin value="US1381031061"/>
          <ticker value="CTLP"/>
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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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Southwest Gas Holdings Inc</name>
        <lei>254900LKF9EV0CUKNE09</lei>
        <title>Southwest Gas Holdings Inc COM</title>
        <cusip>844895102</cusip>
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          <isin value="US8448951025"/>
          <ticker value="SWX"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>Amicus Therapeutics Inc.</name>
        <lei>549300MRD1SMUTNBPQ53</lei>
        <title>Amicus Therapeutics Inc. COM</title>
        <cusip>03152W109</cusip>
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          <isin value="US03152W1099"/>
          <ticker value="FOLD"/>
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        <curCd>USD</curCd>
        <valUSD>130140.00000000</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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      <invstOrSec>
        <name>Warner Bros. Discovery Inc.</name>
        <lei>5493006ZCRFWKF6B1K26</lei>
        <title>Warner Bros. Discovery Inc. COM SER A</title>
        <cusip>934423104</cusip>
        <identifiers>
          <isin value="US9344231041"/>
          <ticker value="WBD"/>
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        <balance>23000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>631580.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VERSANT MEDIA GROUP INC</name>
        <lei>254900D2Q5F5F229PU30</lei>
        <title>Versant Media Group Inc. COM CL A</title>
        <cusip>925283103</cusip>
        <identifiers>
          <isin value="US9252831030"/>
          <ticker value="VSNTV"/>
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        <balance>2000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>74040.00000000</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>Parrot SA</name>
        <lei>9695000KELLFSASOM232</lei>
        <title>Parrot SA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR0004038263"/>
          <ticker value="PARRO"/>
          <other otherDesc="SEDOL" value="B04VST3"/>
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        <invCountry>FR</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>IMAX China Holding Inc</name>
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        <title>IMAX China Holding Inc</title>
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          <ticker value="1970"/>
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        <assetCat>EC</assetCat>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Yamada Holdings Co Ltd.</name>
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        <title>Yamada Holdings Co Ltd. NPV</title>
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          <isin value="JP3939000000"/>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Rockwell Automation, Inc.</name>
        <lei>VH3R4HHBHH12O0EXZJ88</lei>
        <title>Rockwell Automation, Inc. COM</title>
        <cusip>773903109</cusip>
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          <isin value="US7739031091"/>
          <ticker value="ROK"/>
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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>PREVAIL THERAPEUTICS INC</name>
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        <curCd>USD</curCd>
        <valUSD>400.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Endeavor Group Holdings Inc</name>
        <lei>N/A</lei>
        <title>Endeavor Group Holdings Inc CL A COM</title>
        <cusip>29260Y109</cusip>
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          <isin value="US29260Y1091"/>
          <ticker value="EDR"/>
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        <balance>1500.00000000</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>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>European Wax Center Inc</name>
        <lei>N/A</lei>
        <title>European Wax Center Inc CLASS A COM</title>
        <cusip>29882P106</cusip>
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          <isin value="US29882P1066"/>
          <ticker value="EWCZ"/>
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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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      <invstOrSec>
        <name>Atlanta Braves Holdings Inc</name>
        <lei>N/A</lei>
        <title>Atlanta Braves Holdings Inc COM SER A</title>
        <cusip>047726104</cusip>
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          <isin value="US0477261046"/>
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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>LEE Enterprises Inc</name>
        <lei>N/A</lei>
        <title>LEE Enterprises Inc COM</title>
        <cusip>523768406</cusip>
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          <isin value="US5237684064"/>
          <ticker value="LEE"/>
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        <balance>25700.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>221277.00000000</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>First Bank (Nj)</name>
        <lei>549300YS4CB1171BRJ08</lei>
        <title>First Bank (Nj) COM</title>
        <cusip>31931U102</cusip>
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          <isin value="US31931U1025"/>
          <ticker value="FRBA"/>
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        <balance>2000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>32000.00000000</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>TherapeuticsMD Inc.</name>
        <lei>5299004JS7RE49QHRW30</lei>
        <title>TherapeuticsMD Inc. COM NEW</title>
        <cusip>88338N206</cusip>
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          <isin value="US88338N2062"/>
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        <balance>1000.00000000</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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      <invstOrSec>
        <name>OPIANT PHARMACEUTICALS INC</name>
        <lei>N/A</lei>
        <title>OPIANT PHARMACEUTICALS INC</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="683CVR013"/>
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        <balance>3000.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Gulf Coast Ultra Deep Royalty</name>
        <lei>549300LVVWU3NPP3DF95</lei>
        <title>Gulf Coast Ultra Deep Royalty Trust</title>
        <cusip>40222T104</cusip>
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          <isin value="US40222T1043"/>
          <ticker value="GULTU"/>
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        <balance>160000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>NorthWestern Energy Group Inc</name>
        <lei>254900N1WG46G1VMDM34</lei>
        <title>NorthWestern Energy Group Inc COM NEW</title>
        <cusip>668074305</cusip>
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        <name>TREEHOUSE FOODS INC</name>
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      <invstOrSec>
        <name>Two Harbors Investment Corp.</name>
        <lei>549300ZUIBT6KH4HU823</lei>
        <title>Two Harbors Investment Corp. COM</title>
        <cusip>90187B804</cusip>
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          <isin value="US90187B8046"/>
          <ticker value="TWO"/>
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        <invCountry>US</invCountry>
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        <name>CNH INDUSTRIAL NV</name>
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        <title>CNH Industrial N.V. COM EUR0.01</title>
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        <invCountry>NL</invCountry>

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        <name>CFT SpA</name>
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        <invCountry>IT</invCountry>
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        <name>United States Treasury Bills</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>B 0 05/21/26</title>
        <cusip>912797SV0</cusip>
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          <isin value="US912797SV06"/>
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        <invCountry>US</invCountry>
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        <name>Grindr Inc</name>
        <lei>254900J9EDQSYT0ERQ67</lei>
        <title>Grindr Inc COM</title>
        <cusip>39854F101</cusip>
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        <name>Illumina Inc</name>
        <lei>SQ95QG8SR5Q56LSNF682</lei>
        <title>Illumina Inc COM</title>
        <cusip>452327109</cusip>
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          <isin value="US4523271090"/>
          <ticker value="ILMN"/>
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        <name>LANDOS BIOPHARMA INC</name>
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        <title>LANDOS BIOPHARMA INC</title>
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        <name>Olaplex Holdings Inc</name>
        <lei>N/A</lei>
        <title>Olaplex Holdings Inc COM</title>
        <cusip>679369108</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>United States Treasury Bills</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>B 0 06/04/26</title>
        <cusip>912797SX6</cusip>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ALBIREO PHARMA INC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lennar Corp.</name>
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        <title>Lennar Corp. CL B</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CHECKPOINT THERAPEUTICS INC</name>
        <lei>N/A</lei>
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        <assetCat>EC</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Schmitt Industries Inc</name>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Yext Inc</name>
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        <title>Yext Inc COM</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Unifirst Corp</name>
        <lei>5493003XBTNWBC8UK019</lei>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AES Corp.</name>
        <lei>2NUNNB7D43COUIRE5295</lei>
        <title>AES Corp. COM</title>
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          <isin value="US00130H1059"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Hologic Inc</name>
        <lei>549300DYP6F5ZJL0LB74</lei>
        <title>Hologic Inc COM</title>
        <cusip>436440101</cusip>
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          <isin value="US4364401012"/>
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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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      <invstOrSec>
        <name>Air Lease Corporation</name>
        <lei>5493004NW4M4P8TMMK63</lei>
        <title>Air Lease Corporation CL A</title>
        <cusip>00912X302</cusip>
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          <isin value="US00912X3026"/>
          <ticker value="AL"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>LIBERTY MEDIA CORP</name>
        <lei>549300ZKUTPIBZLWLL89</lei>
        <title>Liberty Media Corp Del COM LBTY ONE S A</title>
        <cusip>531229771</cusip>
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          <ticker value="FWONA"/>
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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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      <invstOrSec>
        <name>Rogers Corp</name>
        <lei>PW0CN80KNFR7RUOOKJ84</lei>
        <title>Rogers Corp COM</title>
        <cusip>775133101</cusip>
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          <isin value="US7751331015"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Kenvue Inc.</name>
        <lei>5493008HSF8L4M2LIJ82</lei>
        <title>Kenvue Inc. COM</title>
        <cusip>49177J102</cusip>
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          <isin value="US49177J1025"/>
          <ticker value="KVUE"/>
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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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        <name>Janus Henderson Group PLC</name>
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        <title>Janus Henderson Group PLC ORD USD1.50</title>
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        <invCountry>JE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Avista Corporation</name>
        <lei>Q0IK63NITJD6RJ47SW96</lei>
        <title>Avista Corporation COM</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Electronic Arts Inc.</name>
        <lei>549300O7A67PUEYKDL45</lei>
        <title>Electronic Arts Inc. COM</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SOUTHSTATE BANK CORP</name>
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        <title>Southstate Bank Corp. COM</title>
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        <name>Rogers Communications Inc.</name>
        <lei>5493000M6Z4XFIP6PF03</lei>
        <title>Rogers Communications Inc. CL B</title>
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        <name>Flowers Foods, Inc.</name>
        <lei>7YNCQQNDK8FBM9BBTK25</lei>
        <title>Flowers Foods, Inc. COM</title>
        <cusip>343498101</cusip>
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        <name>Alvopetro Energy Ltd</name>
        <lei>894500E23U8RD36B9168</lei>
        <title>Alvopetro Energy Ltd</title>
        <cusip>02255Q209</cusip>
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        <name>Tri Pointe Homes Inc</name>
        <lei>N/A</lei>
        <title>Tri Pointe Homes Inc COM</title>
        <cusip>87265H109</cusip>
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          <ticker value="TPH"/>
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        <name>METSERA INC</name>
        <lei>N/A</lei>
        <title>METSERA INC</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>TELESAT CORP</name>
        <lei>N/A</lei>
        <title>Telesat Corp. CL A &amp; CL B SHS</title>
        <cusip>879512309</cusip>
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          <ticker value="TSAT"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Endesa SA - Empresa Nacional Electricidad</name>
        <lei>549300LHK07F2CHV4X31</lei>
        <title>Endesa SA - Empresa Nacional Electricidad EUR1.2</title>
        <cusip>000000000</cusip>
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          <ticker value="ELE"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>TPHGREENWICH TRUST</name>
        <lei>N/A</lei>
        <title>TPHGREENWICH TRUST</title>
        <cusip>000000000</cusip>
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          <ticker value="TPHS"/>
          <other otherDesc="INTERNAL" value="896CNT011"/>
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        <balance>24000.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Idorsia Limited</name>
        <lei>506700XOVZUB107S5720</lei>
        <title>Idorsia Limited CHF0.05</title>
        <cusip>000000000</cusip>
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          <isin value="CH0363463438"/>
          <ticker value="IDIA"/>
          <other otherDesc="SEDOL" value="BF0YK62"/>
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        <balance>2200.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fox Corporation</name>
        <lei>549300DDU6FDRBIELS05</lei>
        <title>Fox Corporation CL B COM</title>
        <cusip>35137L204</cusip>
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          <isin value="US35137L2043"/>
          <ticker value="FOX"/>
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        <balance>42000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2230200.00000000</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>Brookfield Corp.</name>
        <lei>C6J3FGIWG6MBDGTE8F80</lei>
        <title>Brookfield Corp. CL A LTD VT SH</title>
        <cusip>11271J107</cusip>
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          <isin value="CA11271J1075"/>
          <ticker value="BN"/>
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        <balance>4500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>182115.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Pan American Silver Corp.</name>
        <lei>549300MKTF5851TYIB83</lei>
        <title>Pan American Silver Corp. COM NPV</title>
        <cusip>697900108</cusip>
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          <isin value="CA6979001089"/>
          <ticker value="PAAS"/>
          <other otherDesc="SEDOL" value="2669272"/>
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        <balance>10000.00000000</balance>
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        <currencyConditional curCd="CAD" exchangeRt="1.39110000"/>
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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>FUSION PHARMACEUTICALS INC</name>
        <lei>N/A</lei>
        <title>FUSION PHARMACEUTICALS INC</title>
        <cusip>000000000</cusip>
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          <ticker value="FUSN"/>
          <other otherDesc="INTERNAL" value="361CVR012"/>
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        <balance>12000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6000.00000000</valUSD>
        <pctVal>0.010532180079</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Perrigo Company PLC</name>
        <lei>549300IFOQS6R1QLY196</lei>
        <title>Perrigo Company PLC COM EUR0.001</title>
        <cusip>000000000</cusip>
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          <isin value="IE00BGH1M568"/>
          <ticker value="PRGO"/>
          <other otherDesc="SEDOL" value="BGH1M56"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>537000.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer LP COM UT LTD PTN</title>
        <cusip>29273V100</cusip>
        <identifiers>
          <isin value="US29273V1008"/>
          <ticker value="ET"/>
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        <balance>12500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>241250.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>REGULUS THERAPEUTICS INC</name>
        <lei>N/A</lei>
        <title>REGULUS THERAPEUTICS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="RGLS"/>
          <other otherDesc="INTERNAL" value="759CVR012"/>
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        <balance>20000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20000.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Silicon Laboratories, Inc.</name>
        <lei>4PRDF8Q9TDHRVZKZSZ47</lei>
        <title>Silicon Laboratories, Inc. COM</title>
        <cusip>826919102</cusip>
        <identifiers>
          <isin value="US8269191024"/>
          <ticker value="SLAB"/>
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        <balance>500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>104075.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Telefonica Deutschland Holding</name>
        <lei>391200ECRPJ3SWQJUM30</lei>
        <title>Telefonica Deutschland Holding AG</title>
        <cusip>000000000</cusip>
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          <isin value="DE000A1J5RX9"/>
          <ticker value="O2D"/>
          <other otherDesc="SEDOL" value="B7VG6L8"/>
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        <balance>135000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.86516416"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LIBERTY LIVE HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>Liberty Live Holdings Inc. COM SHS SER C</title>
        <cusip>530909308</cusip>
        <identifiers>
          <isin value="US5309093087"/>
          <ticker value="LLYVK"/>
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        <balance>128.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12046.08000000</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>Clearwater Analytics Holdings Inc</name>
        <lei>N/A</lei>
        <title>Clearwater Analytics Holdings Inc CL A</title>
        <cusip>185123106</cusip>
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          <isin value="US1851231068"/>
          <ticker value="CWAN"/>
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        <balance>4000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>94600.00000000</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>TXNM Energy Inc.</name>
        <lei>5493003JOBJGLZSDDQ28</lei>
        <title>TXNM Energy Inc. COM</title>
        <cusip>69349H107</cusip>
        <identifiers>
          <isin value="US69349H1077"/>
          <ticker value="TXNM"/>
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        <balance>18500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1081510.00000000</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>Dawson Geophysical Company</name>
        <lei>549300R9G1EAMSMLXR09</lei>
        <title>Dawson Geophysical Company COM</title>
        <cusip>239360100</cusip>
        <identifiers>
          <isin value="US2393601008"/>
          <ticker value="DWSN"/>
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        <balance>66000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>228360.00000000</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>Vulcan Materials Company</name>
        <lei>549300Q8LSNHAVWBNI21</lei>
        <title>Vulcan Materials Company COM</title>
        <cusip>929160109</cusip>
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          <isin value="US9291601097"/>
          <ticker value="VMC"/>
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        <balance>6000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1633800.00000000</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>Lensar Inc</name>
        <lei>N/A</lei>
        <title>Lensar Inc COM</title>
        <cusip>52634L108</cusip>
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          <isin value="US52634L1089"/>
          <ticker value="LNSR"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Klx Energy Services Holdings Inc</name>
        <lei>5493004D4S7MAO1H3U27</lei>
        <title>Klx Energy Services Holdings Inc COM NEW</title>
        <cusip>48253L205</cusip>
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          <isin value="US48253L2051"/>
          <ticker value="KLXE"/>
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        <curCd>USD</curCd>
        <valUSD>6500.00000000</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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      <invstOrSec>
        <name>Iveco Group NV</name>
        <lei>549300ZWF2ZJDD9EOR96</lei>
        <title>Iveco Group NV EUR0.01</title>
        <cusip>000000000</cusip>
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          <isin value="NL0015000LU4"/>
          <ticker value="IVG"/>
          <other otherDesc="SEDOL" value="BKPGF52"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Clear Channel Outdoor Holdings Inc.</name>
        <lei>254900XBEE6V1ENYS150</lei>
        <title>Clear Channel Outdoor Holdings Inc. COM</title>
        <cusip>18453H106</cusip>
        <identifiers>
          <isin value="US18453H1068"/>
          <ticker value="CCO"/>
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        <curCd>USD</curCd>
        <valUSD>711000.00000000</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>Sunrise Communications AG</name>
        <lei>213800RS9HRGTWOGCO08</lei>
        <title>Sunrise Communications AG CHF0.1 A</title>
        <cusip>000000000</cusip>
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          <isin value="CH1386220409"/>
          <ticker value="SUNN"/>
          <other otherDesc="SEDOL" value="BM9WB18"/>
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        <balance>5800.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Carrier Global Corporation</name>
        <lei>549300JE3W6CWY2NAN77</lei>
        <title>Carrier Global Corporation COM</title>
        <cusip>14448C104</cusip>
        <identifiers>
          <isin value="US14448C1045"/>
          <ticker value="CARR"/>
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        <balance>800.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>45048.00000000</valUSD>
        <pctVal>0.079075608037</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>Liberty Broadband Corporation</name>
        <lei>549300MIX43II8JLN536</lei>
        <title>Liberty Broadband Corporation COM SER C</title>
        <cusip>530307305</cusip>
        <identifiers>
          <isin value="US5303073051"/>
          <ticker value="LBRDK"/>
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        <balance>3500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>176050.00000000</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>
      <invstOrSec>
        <name>Navient Corporation</name>
        <lei>54930067J0ZNOEBRW338</lei>
        <title>Navient Corporation COM</title>
        <cusip>63938C108</cusip>
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          <isin value="US63938C1080"/>
          <ticker value="NAVI"/>
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        <balance>26000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>212680.00000000</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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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Sunopta Inc</name>
        <lei>54930010CP0KEPPRPA40</lei>
        <title>Sunopta Inc COM</title>
        <cusip>8676EP108</cusip>
        <identifiers>
          <isin value="CA8676EP1086"/>
          <ticker value="STKL"/>
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        <balance>120000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>777600.00000000</valUSD>
        <pctVal>1.364970538319</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Huntington Bancshares Incorporated</name>
        <lei>549300XTVCVV9I7B5T19</lei>
        <title>Huntington Bancshares Incorporated COM</title>
        <cusip>446150104</cusip>
        <identifiers>
          <isin value="US4461501045"/>
          <ticker value="HBAN"/>
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        <balance>45787.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>716566.55000000</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>Macy's, Inc.</name>
        <lei>529900NZQ81TIOW3CW52</lei>
        <title>Macy's, Inc. COM</title>
        <cusip>55616P104</cusip>
        <identifiers>
          <isin value="US55616P1049"/>
          <ticker value="M"/>
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        <balance>8800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>159192.00000000</valUSD>
        <pctVal>0.279439801872</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Millicom International Cellular SA</name>
        <lei>549300CTHC1CP86P2G96</lei>
        <title>Millicom International Cellular SA COM USD1.50</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="LU0038705702"/>
          <ticker value="TIGO"/>
          <other otherDesc="SEDOL" value="2418128"/>
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        <balance>10700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>801858.00000000</valUSD>
        <pctVal>1.407552142381</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Bapcor Ltd</name>
        <lei>N/A</lei>
        <title>Bapcor Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000BAP9"/>
          <ticker value="BAP"/>
          <other otherDesc="SEDOL" value="BLD2CY7"/>
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        <balance>10000.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.44938038"/>
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        <pctVal>0.007266677645</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PSI Software SE</name>
        <lei>529900OS5AIRXC3T2J37</lei>
        <title>PSI Software SE</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE000A0HMWM7"/>
          <ticker value="PSA"/>
          <other otherDesc="SEDOL" value="BSQLVR6"/>
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        <balance>300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86516416"/>
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        <pctVal>0.026903699207</pctVal>
        <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>
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      <invstOrSec>
        <name>Mister Car Wash Inc</name>
        <lei>N/A</lei>
        <title>Mister Car Wash Inc COM</title>
        <cusip>60646V105</cusip>
        <identifiers>
          <isin value="US60646V1052"/>
          <ticker value="MCW"/>
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        <balance>10000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>69700.00000000</valUSD>
        <pctVal>0.122348825258</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>ATRIUM THERAPEUTICS INC</name>
        <lei>N/A</lei>
        <title>Atrium Therapeutics Inc. COM</title>
        <cusip>04965N104</cusip>
        <identifiers>
          <isin value="US04965N1046"/>
          <ticker value="RNA"/>
        </identifiers>
        <balance>1000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13370.00000000</valUSD>
        <pctVal>0.023469207944</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>Staar Surgical Co</name>
        <lei>5299006LRHI7OJ8BY308</lei>
        <title>Staar Surgical Co COM PAR $0.01</title>
        <cusip>852312305</cusip>
        <identifiers>
          <isin value="US8523123052"/>
          <ticker value="STAA"/>
        </identifiers>
        <balance>7300.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>136510.00000000</valUSD>
        <pctVal>0.239624650444</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>LIBERTY MEDIA CORP</name>
        <lei>549300ZKUTPIBZLWLL89</lei>
        <title>Liberty Media Corp Del COM LBTY ONE S C</title>
        <cusip>531229755</cusip>
        <identifiers>
          <isin value="US5312297550"/>
          <ticker value="FWONK"/>
        </identifiers>
        <balance>3000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>255060.00000000</valUSD>
        <pctVal>0.447722975184</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>Alerion Cleanpower</name>
        <lei>81560090173FFC67B069</lei>
        <title>Alerion Cleanpower NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IT0004720733"/>
          <ticker value="ARN"/>
          <other otherDesc="SEDOL" value="4360487"/>
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        <balance>4200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86516416"/>
        <valUSD>99033.23000000</valUSD>
        <pctVal>0.173839302037</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>TELEPHONE &amp; DATA SYSTEMS INC</name>
        <lei>5299003YZW5BE2NNLO37</lei>
        <title>Telephone and Data Systems Inc. COM NEW</title>
        <cusip>879433829</cusip>
        <identifiers>
          <isin value="US8794338298"/>
          <ticker value="TDS"/>
        </identifiers>
        <balance>8000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>336800.00000000</valUSD>
        <pctVal>0.591206375136</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>JDE Peets N.V</name>
        <lei>724500EHG519SE5ZRT89</lei>
        <title>JDE Peets N.V EUR0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL0014332678"/>
          <ticker value="JDEP"/>
          <other otherDesc="SEDOL" value="BMC4ZZ3"/>
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        <balance>11000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86516416"/>
        <valUSD>404824.90000000</valUSD>
        <pctVal>0.710614791252</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Chart Industries Inc</name>
        <lei>EM7QGKC1GYOF3LSZSL80</lei>
        <title>Chart Industries Inc COM</title>
        <cusip>16115Q308</cusip>
        <identifiers>
          <isin value="US16115Q3083"/>
          <ticker value="GTLS"/>
        </identifiers>
        <balance>4500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>930375.00000000</valUSD>
        <pctVal>1.633146173596</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>Abiomed Inc</name>
        <lei>5493001EZN4ZTB4Z5887</lei>
        <title>Abiomed Inc USD0.01 SUBS RTS</title>
        <cusip>003CVR016</cusip>
        <identifiers>
          <isin value="US003CVR0169"/>
          <ticker value="2223637D"/>
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        <balance>6700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10720.00000000</valUSD>
        <pctVal>0.018817495075</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Ryman Hospitality Properties Inc</name>
        <lei>529900GCCWW9SRMPJR11</lei>
        <title>Ryman Hospitality Properties Inc COM</title>
        <cusip>78377T107</cusip>
        <identifiers>
          <isin value="US78377T1079"/>
          <ticker value="RHP"/>
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        <balance>2400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>221448.00000000</valUSD>
        <pctVal>0.388721702378</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>Penumbra Inc.</name>
        <lei>549300RGE06P3ECANU72</lei>
        <title>Penumbra Inc. COM</title>
        <cusip>70975L107</cusip>
        <identifiers>
          <isin value="US70975L1070"/>
          <ticker value="PEN"/>
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        <balance>400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>131348.00000000</valUSD>
        <pctVal>0.230563464849</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>MIRATI THERAPEUTICS INC</name>
        <lei>N/A</lei>
        <title>MIRATI THERAPEUTICS INC</title>
        <cusip>604CVR027</cusip>
        <identifiers>
          <isin value="US604CVR0279"/>
          <ticker value="MRTX"/>
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        <balance>15000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7500.00000000</valUSD>
        <pctVal>0.013165225099</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Herc Holdings Inc</name>
        <lei>549300TP80QLITMSBP82</lei>
        <title>Herc Holdings Inc COM</title>
        <cusip>42704L104</cusip>
        <identifiers>
          <isin value="US42704L1044"/>
          <ticker value="HRI"/>
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        <balance>300.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>29865.00000000</valUSD>
        <pctVal>0.052423926346</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>Kennedy-Wilson Holdings Inc</name>
        <lei>549300MOI1T78144X610</lei>
        <title>Kennedy-Wilson Holdings Inc COM</title>
        <cusip>489398107</cusip>
        <identifiers>
          <isin value="US4893981070"/>
          <ticker value="KW"/>
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        <balance>40000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>432800.00000000</valUSD>
        <pctVal>0.759721256410</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>Valmet Oyj</name>
        <lei>213800D9O7FUQDH83V62</lei>
        <title>Valmet Oyj NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FI4000074984"/>
          <ticker value="VALMT"/>
          <other otherDesc="SEDOL" value="BH6XZT5"/>
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        <balance>4500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86516416"/>
        <valUSD>126756.29000000</valUSD>
        <pctVal>0.222503345417</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GENCO SHIPPING &amp; TRADING LTD</name>
        <lei>5493003MBZ5GU8QHXZ58</lei>
        <title>Genco Shipping &amp; Trading Ltd. COM USD0.01</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="MHY2685T1313"/>
          <ticker value="GNK"/>
          <other otherDesc="SEDOL" value="BD08758"/>
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        <balance>300.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6765.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VIGIL NEUROSCIENCE INC</name>
        <lei>N/A</lei>
        <title>VIGIL NEUROSCIENCE INC</title>
        <cusip>926CVR010</cusip>
        <identifiers>
          <isin value="US926CVR0106"/>
          <ticker value="VIGL"/>
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        <balance>65000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3250.00000000</valUSD>
        <pctVal>0.005704930876</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GRACELL BIOTECHNOLOGIES INC</name>
        <lei>N/A</lei>
        <title>GRACELL BIOTECHNOLOGIES INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="384CVR015"/>
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        <balance>30000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1200.00000000</valUSD>
        <pctVal>0.002106436015</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GrainCorp Ltd.</name>
        <lei>529900XVBL825SSW9081</lei>
        <title>GrainCorp Ltd. 'A'NPV</title>
        <cusip>000000000</cusip>
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          <isin value="AU000000GNC9"/>
          <ticker value="GNC"/>
          <other otherDesc="SEDOL" value="6102331"/>
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        <balance>9900.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.44938038"/>
        <valUSD>45286.25000000</valUSD>
        <pctVal>0.079493823355</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</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>United States Treasury Bills</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>B 0 05/28/26</title>
        <cusip>912797SW8</cusip>
        <identifiers>
          <isin value="US912797SW88"/>
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        <balance>2095000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2082985.53000000</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>2026-05-28</maturityDt>
          <couponKind>None</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ICOSAVAX INC</name>
        <lei>N/A</lei>
        <title>ICOSAVAX INC</title>
        <cusip>451CVR021</cusip>
        <identifiers>
          <isin value="US451CVR0216"/>
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        <balance>30000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9000.00000000</valUSD>
        <pctVal>0.015798270119</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Orange Belgium SA</name>
        <lei>5493007JS0ZHJVBUWP18</lei>
        <title>Orange Belgium SA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BE0003735496"/>
          <ticker value="OBEL"/>
          <other otherDesc="SEDOL" value="5541979"/>
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        <balance>7000.00000000</balance>
        <units>NS</units>
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        <pctVal>0.286891652798</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</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>QuidelOrtho Corp</name>
        <lei>549300YU8CMO9HF53113</lei>
        <title>QuidelOrtho Corp COM</title>
        <cusip>219798105</cusip>
        <identifiers>
          <isin value="US2197981051"/>
          <ticker value="QDEL"/>
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        <balance>3500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>57505.00000000</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>Skechers USA Inc</name>
        <lei>529900D2R54KZPA4XR56</lei>
        <title>Skechers USA Inc</title>
        <cusip>830566105</cusip>
        <identifiers>
          <isin value="US8305661055"/>
          <ticker value="SKX"/>
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        <balance>10000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>162600.00000000</valUSD>
        <pctVal>0.285422080157</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Datagroup SE</name>
        <lei>391200NEYPQM7LC12H89</lei>
        <title>Datagroup SE</title>
        <cusip>000000000</cusip>
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          <isin value="DE000A0JC8S7"/>
          <ticker value="D6H"/>
          <other otherDesc="SEDOL" value="B1D7R92"/>
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        <balance>1000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86516416"/>
        <valUSD>85532.90000000</valUSD>
        <pctVal>0.150141317588</pctVal>
        <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>
      <invstOrSec>
        <name>Grifols S.A.</name>
        <lei>959800HSSNXWRKBK4N60</lei>
        <title>Grifols S.A. SP ADR REP B NVT</title>
        <cusip>398438408</cusip>
        <identifiers>
          <isin value="US3984384087"/>
          <ticker value="GRFS"/>
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        <balance>7000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>56140.00000000</valUSD>
        <pctVal>0.098546098278</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Koninklijke KPN N.V.</name>
        <lei>549300YO0JZHAL7FVP81</lei>
        <title>Koninklijke KPN N.V. EUR0.04</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL0000009082"/>
          <ticker value="KPN"/>
          <other otherDesc="SEDOL" value="5956078"/>
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        <balance>200000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86516416"/>
        <valUSD>1110309.51000000</valUSD>
        <pctVal>1.948996617240</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TowneBank (Portsmouth Virginia)</name>
        <lei>54930039UO39UJGI7078</lei>
        <title>TowneBank (Portsmouth Virginia) COM</title>
        <cusip>89214P109</cusip>
        <identifiers>
          <isin value="US89214P1093"/>
          <ticker value="TOWN"/>
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        <balance>700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23569.00000000</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>Albertsons Companies Inc.</name>
        <lei>549300YKWOC0AOR16R51</lei>
        <title>Albertsons Companies Inc. COMMON STOCK</title>
        <cusip>013091103</cusip>
        <identifiers>
          <isin value="US0130911037"/>
          <ticker value="ACI"/>
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        <balance>8000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>136320.00000000</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>RESOLUTE FOREST PRODUCTS INC</name>
        <lei>N/A</lei>
        <title>RESOLUTE FOREST PRODUCTS INC SHS</title>
        <cusip>761CVR042</cusip>
        <identifiers>
          <isin value="US761CVR0427"/>
          <ticker value="RFP"/>
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        <balance>17500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26250.00000000</valUSD>
        <pctVal>0.046078287848</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SKYWATER TECHNOLOGY INC</name>
        <lei>N/A</lei>
        <title>Skywater Technology Inc. COM</title>
        <cusip>83089J108</cusip>
        <identifiers>
          <isin value="US83089J1088"/>
          <ticker value="SKYT"/>
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        <balance>300.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8223.00000000</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>National Fuel Gas Company</name>
        <lei>8JB38FFW1Y3C1HM8E841</lei>
        <title>National Fuel Gas Company COM</title>
        <cusip>636180101</cusip>
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          <isin value="US6361801011"/>
          <ticker value="NFG"/>
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        <balance>2000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>187920.00000000</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>ZIM Integrated Shipping Services Ltd</name>
        <lei>21380089EIJRELKAIL21</lei>
        <title>ZIM Integrated Shipping Services Ltd SHS</title>
        <cusip>000000000</cusip>
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          <isin value="IL0065100930"/>
          <ticker value="ZIM"/>
          <other otherDesc="SEDOL" value="BLC90J0"/>
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        <curCd>USD</curCd>
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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>Playtech PLC</name>
        <lei>21380068TTB6Z9ZEU548</lei>
        <title>Playtech PLC ORD NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IM00B7S9G985"/>
          <ticker value="PTEC"/>
          <other otherDesc="SEDOL" value="B7S9G98"/>
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        <balance>6000.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75551526"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Masimo Corporation</name>
        <lei>549300Q4A8JK0PIYCU29</lei>
        <title>Masimo Corporation COM</title>
        <cusip>574795100</cusip>
        <identifiers>
          <isin value="US5747951003"/>
          <ticker value="MASI"/>
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        <balance>1500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>266805.00000000</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>SGL Carbon SE</name>
        <lei>52990038IB31TYK07X63</lei>
        <title>SGL Carbon SE NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE0007235301"/>
          <ticker value="SGL"/>
          <other otherDesc="SEDOL" value="4818351"/>
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        <currencyConditional curCd="EUR" exchangeRt="0.86516416"/>
        <valUSD>50946.98000000</valUSD>
        <pctVal>0.089430461312</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United States Treasury Bills</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>B 0 06/11/26</title>
        <cusip>912797QX8</cusip>
        <identifiers>
          <isin value="US912797QX89"/>
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        <balance>2405000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2387943.48000000</valUSD>
        <pctVal>4.191708458554</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-11</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Epizyme Inc</name>
        <lei>549300TNFWF88O4U4605</lei>
        <title>Epizyme Inc SHS</title>
        <cusip>294CVR014</cusip>
        <identifiers>
          <isin value="US294CVR0142"/>
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        <balance>28000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>560.00000000</valUSD>
        <pctVal>0.000983003474</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Qube Holdings Ltd.</name>
        <lei>391200RT2MUFEO3RFW25</lei>
        <title>Qube Holdings Ltd. NPV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="AU000000QUB5"/>
          <ticker value="QUB"/>
          <other otherDesc="SEDOL" value="B1L4BC6"/>
        </identifiers>
        <balance>10000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.44938038"/>
        <valUSD>33531.57000000</valUSD>
        <pctVal>0.058860088932</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BEL Fuse Inc</name>
        <lei>2549009L4XYDBRRY6X39</lei>
        <title>BEL Fuse Inc CL A</title>
        <cusip>077347201</cusip>
        <identifiers>
          <isin value="US0773472016"/>
          <ticker value="BELFA"/>
        </identifiers>
        <balance>1000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>180200.00000000</valUSD>
        <pctVal>0.316316475058</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>Array Digital Infrastructure Inc.</name>
        <lei>549300B164AZXESI6E03</lei>
        <title>Array Digital Infrastructure Inc. COM</title>
        <cusip>911684108</cusip>
        <identifiers>
          <isin value="US9116841084"/>
          <ticker value="AD"/>
        </identifiers>
        <balance>12000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>553680.00000000</valUSD>
        <pctVal>0.971909577747</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>United States Treasury Bills</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>B 0 06/18/26</title>
        <cusip>912797TD9</cusip>
        <identifiers>
          <isin value="US912797TD98"/>
        </identifiers>
        <balance>1240000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1230354.87000000</valUSD>
        <pctVal>2.159719842114</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-18</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kinross Gold Corp</name>
        <lei>254900O9KHF2A1ZXPT47</lei>
        <title>Kinross Gold Corp</title>
        <cusip>496902198</cusip>
        <identifiers>
          <isin value="CA4969021985"/>
          <other otherDesc="SEDOL" value="BPR9XS3"/>
        </identifiers>
        <balance>10000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.39110000"/>
        <valUSD>0.07000000</valUSD>
        <pctVal>0.000000122875</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>Severn Trent PLC</name>
        <lei>213800RPBXRETY4A4C59</lei>
        <title>Severn Trent PLC ORD GBP0.9789</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00B1FH8J72"/>
          <ticker value="SVT"/>
          <other otherDesc="SEDOL" value="B1FH8J7"/>
        </identifiers>
        <balance>15500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75551526"/>
        <valUSD>633938.22000000</valUSD>
        <pctVal>1.112791915399</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>LKQ Corporation</name>
        <lei>DS830JTTZQN6GK0I2E41</lei>
        <title>LKQ Corporation COM</title>
        <cusip>501889208</cusip>
        <identifiers>
          <isin value="US5018892084"/>
          <ticker value="LKQ"/>
        </identifiers>
        <balance>11500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>337755.00000000</valUSD>
        <pctVal>0.592882747132</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>MERSANA THERAPEUTICS INC</name>
        <lei>N/A</lei>
        <title>MERSANA THERAPEUTICS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="MRSN"/>
          <other otherDesc="INTERNAL" value="590CVR015"/>
        </identifiers>
        <balance>4000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11000.00000000</valUSD>
        <pctVal>0.019308996812</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LIBERTY GLOBAL LTD</name>
        <lei>213800HRMKKTYH7SKA24</lei>
        <title>Liberty Global Ltd. COM CL A</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG611881019"/>
          <ticker value="LBTYA"/>
          <other otherDesc="SEDOL" value="BS71B31"/>
        </identifiers>
        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>604500.00000000</valUSD>
        <pctVal>1.061117143022</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SCPHARMACEUTICALS INC</name>
        <lei>N/A</lei>
        <title>SCPHARMACEUTICALS INC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="SCPH"/>
          <other otherDesc="INTERNAL" value="810CVR019"/>
        </identifiers>
        <balance>14000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4200.00000000</valUSD>
        <pctVal>0.007372526055</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UGI Corp</name>
        <lei>DX6GCWD4Q1JO9CRE5I40</lei>
        <title>UGI Corp COM</title>
        <cusip>902681105</cusip>
        <identifiers>
          <isin value="US9026811052"/>
          <ticker value="UGI"/>
        </identifiers>
        <balance>9000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>327780.00000000</valUSD>
        <pctVal>0.575372997749</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>Essential Utilities Inc</name>
        <lei>549300ILTEOF3E3QY357</lei>
        <title>Essential Utilities Inc COM</title>
        <cusip>29670G102</cusip>
        <identifiers>
          <isin value="US29670G1022"/>
          <ticker value="WTRG"/>
        </identifiers>
        <balance>1000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>40270.00000000</valUSD>
        <pctVal>0.070688481967</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>Sportsman's Warehouse Holdings Inc.</name>
        <lei>549300JVV8YLQSRSF462</lei>
        <title>Sportsman's Warehouse Holdings Inc. COM</title>
        <cusip>84920Y106</cusip>
        <identifiers>
          <isin value="US84920Y1064"/>
          <ticker value="SPWH"/>
        </identifiers>
        <balance>135000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>190350.00000000</valUSD>
        <pctVal>0.334133413026</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>Orogen Royalties Inc</name>
        <lei>N/A</lei>
        <title>Orogen Royalties Inc</title>
        <cusip>687080101</cusip>
        <identifiers>
          <isin value="CA6870801017"/>
          <ticker value="OGN"/>
          <other otherDesc="SEDOL" value="BV5PKD9"/>
        </identifiers>
        <balance>2500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.39110000"/>
        <valUSD>6559.56000000</valUSD>
        <pctVal>0.011514411193</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>MILLROSE PROPERTIES INC</name>
        <lei>N/A</lei>
        <title>Millrose Properties Inc. COM CL A</title>
        <cusip>601137102</cusip>
        <identifiers>
          <isin value="US6011371027"/>
          <ticker value="MRP"/>
        </identifiers>
        <balance>600.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16800.00000000</valUSD>
        <pctVal>0.029490104222</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>DMC Global Inc.</name>
        <lei>549300CBDXD1Z5MRNG02</lei>
        <title>DMC Global Inc. COM</title>
        <cusip>23291C103</cusip>
        <identifiers>
          <isin value="US23291C1036"/>
          <ticker value="BOOM"/>
        </identifiers>
        <balance>2500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13025.00000000</valUSD>
        <pctVal>0.022863607589</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-05-29</ncom:dateSigned>
      <ncom:nameOfApplicant>Gabelli 787 Fund, Inc.</ncom:nameOfApplicant>
      <ncom:signature>John C. Ball</ncom:signature>
      <ncom:signerName>John C. Ball</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
