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    <submissionType>NPORT-P</submissionType>
    <isConfidential>false</isConfidential>
    <filerInfo>

      <filer>
        <issuerCredentials>
          <cik>0001396092</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>


      <seriesClassInfo>
        <seriesId>S000075529</seriesId>
        <classId>C000234709</classId>
        <classId>C000234708</classId>
      </seriesClassInfo>


    </filerInfo>
  </headerData>
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    <genInfo>
      <regName>World Funds Trust</regName>
      <regFileNumber>811-22172</regFileNumber>
      <regCik>0001396092</regCik>
      <regLei>5493007BOSPYEMKSSY03</regLei>
      <regStreet1>8730 Stony Point Parkway</regStreet1>
      <regStreet2>Suite 205</regStreet2>
      <regCity>Richmond</regCity>
      <regStateConditional regCountry="US" regState="US-VA"/>
      <regZipOrPostalCode>23235</regZipOrPostalCode>
      <regPhone>800-673-0550</regPhone>
      <seriesName>Vest US Large Cap 10% Buffer Strategies VI Fund</seriesName>
      <seriesId>S000075529</seriesId>
      <seriesLei>549300FPCXH2RTCBJX79</seriesLei>
      <repPdEnd>2025-12-31</repPdEnd>
      <repPdDate>2025-06-30</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>13715180.63</totAssets>
      <totLiabs>499210.32</totLiabs>
      <netAssets>13215970.31</netAssets>
      <assetsAttrMiscSec>0.00000000</assetsAttrMiscSec>
      <assetsInvested>0.00000000</assetsInvested>
      <amtPayOneYrBanksBorr>0.00000000</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0.00000000</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0.00000000</amtPayOneYrOthAffil>
      <amtPayOneYrOther>0.00000000</amtPayOneYrOther>
      <amtPayAftOneYrBanksBorr>0.00000000</amtPayAftOneYrBanksBorr>
      <amtPayAftOneYrCtrldComp>0.00000000</amtPayAftOneYrCtrldComp>
      <amtPayAftOneYrOthAffil>0.00000000</amtPayAftOneYrOthAffil>
      <amtPayAftOneYrOther>0.00000000</amtPayAftOneYrOther>
      <delayDeliv>0.00000000</delayDeliv>
      <standByCommit>0.00000000</standByCommit>
      <liquidPref>0.00000000</liquidPref>
      <cshNotRptdInCorD>0.00000000</cshNotRptdInCorD>
      <isNonCashCollateral>N</isNonCashCollateral>
      <returnInfo>
        <monthlyTotReturns>
          <monthlyTotReturn classId="C000234709" rtn1="-0.71000000" rtn2="4.12000000" rtn3="3.34000000"/>
          <monthlyTotReturn classId="C000234708" rtn1="-0.71000000" rtn2="4.13000000" rtn3="3.36000000"/>
        </monthlyTotReturns>
        <monthlyReturnCats>
          <equityContracts>
            <mon1 netRealizedGain="-20001.58000000" netUnrealizedAppr="-41131.92000000"/>
            <mon2 netRealizedGain="42642.00000000" netUnrealizedAppr="432175.96000000"/>
            <mon3 netRealizedGain="53518.37000000" netUnrealizedAppr="376037.74000000"/>
            <optionCategory>
              <instrMon1 netRealizedGain="-20001.58000000" netUnrealizedAppr="-41131.92000000"/>
              <instrMon2 netRealizedGain="42642.00000000" netUnrealizedAppr="432175.96000000"/>
              <instrMon3 netRealizedGain="53518.37000000" netUnrealizedAppr="376037.74000000"/>
            </optionCategory>
          </equityContracts>
        </monthlyReturnCats>
        <othMon1 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
        <othMon2 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
        <othMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
      </returnInfo>
      <mon1Flow redemption="47191.09000000" reinvestment="0.00000000" sales="288653.62000000"/>
      <mon2Flow redemption="4957.27000000" reinvestment="0.00000000" sales="1016778.40000000"/>
      <mon3Flow redemption="54245.35000000" reinvestment="0.00000000" sales="474441.28000000"/>



      <varInfo>

        <fundsDesignatedInfo>
          <nameDesignatedIndex>S&amp;P 500 (TR)</nameDesignatedIndex>
          <indexIdentifier>500TR</indexIdentifier>

        </fundsDesignatedInfo>

      </varInfo>
    </fundInfo>
    <invstOrSecs>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>CALL S&amp;P 500 MINI INDEX 03/18/26 C653.42</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260318C00653420"/>
        </identifiers>
        <balance>-18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-40483.32000000</valUSD>
        <pctVal>-0.30632120873</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>-18.00000000</shareNo>
            <exercisePrice>653.42000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-03-18</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-24742.09000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>CALL S&amp;P 500 MINI INDEX 11/19/25 C676.03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   251119C00676030"/>
        </identifiers>
        <balance>-18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-7774.97000000</valUSD>
        <pctVal>-0.05883011097</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>-18.00000000</shareNo>
            <exercisePrice>676.03000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-11-19</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>6473.23000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>PUT S&amp;P 500 MINI INDE 09/17/2025 P561.83</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   250917P00561830"/>
        </identifiers>
        <balance>18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8326.04000000</valUSD>
        <pctVal>0.062999838866</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>18.00000000</shareNo>
            <exercisePrice>561.83000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-09-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-31568.84000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>PUT S&amp;P 500 MINI INDEX 02/18/26 P552.97</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260218P00552970"/>
        </identifiers>
        <balance>-18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-21733.89000000</valUSD>
        <pctVal>-0.16445171629</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>-18.00000000</shareNo>
            <exercisePrice>552.97000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-02-18</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>6505.92000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>PUT S&amp;P 500 MINI INDEX 11/19/25 P532.54</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   251119P00532540"/>
        </identifiers>
        <balance>-18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-10521.78000000</valUSD>
        <pctVal>-0.07961413163</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>-18.00000000</shareNo>
            <exercisePrice>532.54000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-11-19</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>13839.15000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>PUT S&amp;P 500 MINI INDEX 04/15/26 P474.81</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260415P00474810"/>
        </identifiers>
        <balance>-18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-11761.84000000</valUSD>
        <pctVal>-0.08899717329</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>-18.00000000</shareNo>
            <exercisePrice>474.81000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-04-15</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>27272.87000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>CALL S&amp;P 500 MINI INDEX 02/18/2026 C0.01</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260218C00000010"/>
        </identifiers>
        <balance>18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1112635.42000000</valUSD>
        <pctVal>8.418870456739</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>18.00000000</shareNo>
            <exercisePrice>0.01000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-02-18</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>22670.98000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>PUT S&amp;P 500 MINI 07/16/2025 P558.83</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   250716P00558830"/>
        </identifiers>
        <balance>17.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>427.21000000</valUSD>
        <pctVal>0.003232528448</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>17.00000000</shareNo>
            <exercisePrice>558.83000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-07-16</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-41159.57000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>PUT S&amp;P 500 MINI INDEX 04/15/26 P527.57</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260415P00527570"/>
        </identifiers>
        <balance>18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20897.88000000</valUSD>
        <pctVal>0.158125960559</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>18.00000000</shareNo>
            <exercisePrice>527.57000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-04-15</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-47681.35000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>CALL S&amp;P 500 MINI INDEX 11/19/25 C0.01</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   251119C00000010"/>
        </identifiers>
        <balance>18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1113836.81000000</valUSD>
        <pctVal>8.427960897863</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>18.00000000</shareNo>
            <exercisePrice>0.01000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-11-19</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>55717.43000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>CALL S&amp;P 500 MINI INDEX 08/20/25 C646.87</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   250820C00646870"/>
        </identifiers>
        <balance>-18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-5687.13000000</valUSD>
        <pctVal>-0.04303225466</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>-18.00000000</shareNo>
            <exercisePrice>646.87000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-08-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>7085.40000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>CALL S&amp;P 500 MINI INDEX 06/17/26 C0.01</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260617C00000010"/>
        </identifiers>
        <balance>18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1110568.90000000</valUSD>
        <pctVal>8.403233920400</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>18.00000000</shareNo>
            <exercisePrice>0.01000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-06-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>40979.45000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>CALL S&amp;P 500 MINI INDEX 05/20/26 C0.01</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260520C00000010"/>
        </identifiers>
        <balance>18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1111138.68000000</valUSD>
        <pctVal>8.407545219432</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>18.00000000</shareNo>
            <exercisePrice>0.01000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-05-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>67834.50000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>CALL S&amp;P 500 MINI INDEX 12/17/25 C685.5</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   251217C00685580"/>
        </identifiers>
        <balance>-18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-7555.46000000</valUSD>
        <pctVal>-0.05716916596</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>-18.00000000</shareNo>
            <exercisePrice>685.58000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-12-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>3604.01000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>PUT S&amp;P 500 MINI INDEX 12/17/25 P528.51</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   251217P00528510"/>
        </identifiers>
        <balance>-18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-12547.06000000</valUSD>
        <pctVal>-0.09493862127</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>-18.00000000</shareNo>
            <exercisePrice>528.51000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-12-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>14433.96000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>CALL S&amp;P 500 MINI INDEX 08/20/25 C0.01</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   250820C00000010"/>
        </identifiers>
        <balance>18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1115991.02000000</valUSD>
        <pctVal>8.444260949614</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>18.00000000</shareNo>
            <exercisePrice>0.01000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-08-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>83484.94000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Default</name>
        <lei>N/A</lei>
        <title>Federated Treasury Obligations Fund</title>
        <cusip>60934N500</cusip>
        <identifiers>
          <isin value="US60934N5005"/>
        </identifiers>
        <balance>47998.48000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>47998.48000000</valUSD>
        <pctVal>0.363185440600</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>PUT S&amp;P 500 MINI INDEX 03/18/26 P567.53</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260318P00567530"/>
        </identifiers>
        <balance>18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28758.75000000</valUSD>
        <pctVal>0.217606042730</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>18.00000000</shareNo>
            <exercisePrice>567.53000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-03-18</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-27644.65000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>CALL S&amp;P 500 MINI INDEX 01/21/26 C685.59</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260121C00685590"/>
        </identifiers>
        <balance>-18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-11324.00000000</valUSD>
        <pctVal>-0.08568421186</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>-18.00000000</shareNo>
            <exercisePrice>685.59000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-01-21</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>39.17000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>PUT S&amp;P 500 MINI INDEX 06/17/26 P538.28</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260617P00538280"/>
        </identifiers>
        <balance>-18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-26219.08000000</valUSD>
        <pctVal>-0.19838936820</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>-18.00000000</shareNo>
            <exercisePrice>538.28000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-06-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>7086.47000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>PUT S&amp;P 500 MINI INDEX 11/19/25 P591.71</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   251119P00591710"/>
        </identifiers>
        <balance>18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24391.93000000</valUSD>
        <pctVal>0.184564049614</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>18.00000000</shareNo>
            <exercisePrice>591.71000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-11-19</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-26797.45000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>PUT S&amp;P 500 MINI INDEX 10/15/25 P584.25</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   251015P00584250"/>
        </identifiers>
        <balance>18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16994.82000000</valUSD>
        <pctVal>0.128593055230</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>18.00000000</shareNo>
            <exercisePrice>584.25000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-10-15</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-29040.37000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>PUT S&amp;P 500 MINI INDEX 02/18/26 P614.42</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260218P00614420"/>
        </identifiers>
        <balance>18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>44216.70000000</valUSD>
        <pctVal>0.334570212877</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>18.00000000</shareNo>
            <exercisePrice>614.42000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-02-18</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-13481.74000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>PUT S&amp;P 500 MINI INDEX 01/21/26 P535.49</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260121P00535490"/>
        </identifiers>
        <balance>-18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-16025.57000000</valUSD>
        <pctVal>-0.12125912531</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>-18.00000000</shareNo>
            <exercisePrice>535.49000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-01-21</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>10465.21000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>CALL S&amp;P 500 MINI 07/16/2025 C650.98</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   250716C00650980"/>
        </identifiers>
        <balance>-17.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-199.05000000</valUSD>
        <pctVal>-0.00150613231</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>-17.00000000</shareNo>
            <exercisePrice>650.98000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-07-16</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>8676.87000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>PUT S&amp;P 500 MINI 07/16/2025 P502.95</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   250716P00502950"/>
        </identifiers>
        <balance>-17.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-11.22000000</valUSD>
        <pctVal>-0.00008489728</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>-17.00000000</shareNo>
            <exercisePrice>502.95000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-07-16</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>15170.53000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>PUT S&amp;P 500 MINI INDEX 08/20/25 P505.88</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   250820P00505880"/>
        </identifiers>
        <balance>-18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1259.12000000</valUSD>
        <pctVal>-0.00952726111</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>-18.00000000</shareNo>
            <exercisePrice>505.88000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-08-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>16817.24000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>CALL S&amp;P 500 MINI INDEX 04/15/26 C0.01</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260415C00000010"/>
        </identifiers>
        <balance>18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1111685.07000000</valUSD>
        <pctVal>8.411679535620</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>18.00000000</shareNo>
            <exercisePrice>0.01000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-04-15</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>165405.84000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>CALL S&amp;P 500 MINI INDEX 10/15/24 C669.92</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   251015C00669920"/>
        </identifiers>
        <balance>-18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-5664.20000000</valUSD>
        <pctVal>-0.04285875245</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>-18.00000000</shareNo>
            <exercisePrice>669.92000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-10-15</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>6909.24000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>PUT S&amp;P 500 MINI INDEX 05/20/26 P526.01</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260520P00526010"/>
        </identifiers>
        <balance>-18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-21817.62000000</valUSD>
        <pctVal>-0.16508526796</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>-18.00000000</shareNo>
            <exercisePrice>526.01000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-05-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>9244.20000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>CALL S&amp;P 500 MINI INDEX 06/17/26 C692.19</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260617C00692190"/>
        </identifiers>
        <balance>-18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-24569.15000000</valUSD>
        <pctVal>-0.18590500299</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>-18.00000000</shareNo>
            <exercisePrice>692.19000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-06-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-9928.60000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>CALL S&amp;P 500 MINI INDEX 03/18/26 C0.01</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260318C00000010"/>
        </identifiers>
        <balance>18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1111902.26000000</valUSD>
        <pctVal>8.413322926116</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>18.00000000</shareNo>
            <exercisePrice>0.01000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-03-18</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>92835.86000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>CALL S&amp;P 500 MINI INDEX 01/21/2026 C0.01</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260121C00000010"/>
        </identifiers>
        <balance>18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1112843.35000000</valUSD>
        <pctVal>8.420443780491</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>18.00000000</shareNo>
            <exercisePrice>0.01000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-01-21</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>52800.85000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>CALL S&amp;P 500 MINI INDEX 02/18/26 C709.77</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260218C00709770"/>
        </identifiers>
        <balance>-18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-6495.83000000</valUSD>
        <pctVal>-0.04915136647</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>-18.00000000</shareNo>
            <exercisePrice>709.77000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-02-18</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>2571.45000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>CALL S&amp;P 500 MINI INDEX 10/15/25 C0.01</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   251015C00000010"/>
        </identifiers>
        <balance>18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1114690.13000000</valUSD>
        <pctVal>8.434417631496</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>18.00000000</shareNo>
            <exercisePrice>0.01000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-10-15</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>61642.94000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>CALL S&amp;P 500 MINI INDEX 04/15/26 C626.7</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260415C00626700"/>
        </identifiers>
        <balance>-18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-73740.65000000</valUSD>
        <pctVal>-0.55796622018</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>-18.00000000</shareNo>
            <exercisePrice>626.70000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-04-15</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-54671.35000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>PUT S&amp;P 500 MINI INDEX 03/18/26 P510.78</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260318P00510780"/>
        </identifiers>
        <balance>-18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-15663.25000000</valUSD>
        <pctVal>-0.11851759373</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>-18.00000000</shareNo>
            <exercisePrice>510.78000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-03-18</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>11609.60000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>PUT S&amp;P 500 MINI INDEX 12/17/25 P587.22</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   251217P00587220"/>
        </identifiers>
        <balance>18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>25983.35000000</valUSD>
        <pctVal>0.196605692889</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>18.00000000</shareNo>
            <exercisePrice>587.22000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-12-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-25061.85000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>CALL S&amp;P 500 MINI INDEX 09/17/25 C639.7</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   250917C00639700"/>
        </identifiers>
        <balance>-18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-16066.80000000</valUSD>
        <pctVal>-0.12157109635</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>-18.00000000</shareNo>
            <exercisePrice>639.70000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-09-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>5031.73000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>CALL S&amp;P 500 MINI INDEX 09/17/2025 C0.01</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   250917C00000010"/>
        </identifiers>
        <balance>18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1115211.46000000</valUSD>
        <pctVal>8.438362328615</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>18.00000000</shareNo>
            <exercisePrice>0.01000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-09-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>80273.58000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>CALL S&amp;P 500 MINI INDEX 05/20/26 C678.32</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260520C00678320"/>
        </identifiers>
        <balance>-18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-30162.78000000</valUSD>
        <pctVal>-0.22822978027</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>-18.00000000</shareNo>
            <exercisePrice>678.32000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-05-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-14508.96000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>PUT S&amp;P 500 MINI INDE 09/17/2025 P505.65</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   250917P00505650"/>
        </identifiers>
        <balance>-18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-2921.94000000</valUSD>
        <pctVal>-0.02210915983</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>-18.00000000</shareNo>
            <exercisePrice>505.65000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-09-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>18707.55000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>CALL S&amp;P 500 MINI INDEX 07/16/2025 C0.01</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   250716C00000010"/>
        </identifiers>
        <balance>17.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1054550.63000000</valUSD>
        <pctVal>7.979365913088</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>17.00000000</shareNo>
            <exercisePrice>0.01000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-07-16</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>104471.85000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>PUT S&amp;P 500 MINI INDEX 10/15/25 P525.82</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   251015P00525820"/>
        </identifiers>
        <balance>-18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-6479.83000000</valUSD>
        <pctVal>-0.04903030082</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>-18.00000000</shareNo>
            <exercisePrice>525.82000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-10-15</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>16284.33000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>CALL S&amp;P 500 MINI INDEX 12/17/25 C0.01</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   251217C00000010"/>
        </identifiers>
        <balance>18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1113107.63000000</valUSD>
        <pctVal>8.422443482320</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>18.00000000</shareNo>
            <exercisePrice>0.01000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-12-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>59065.43000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>PUT S&amp;P 500 MINI INDEX 06/17/26 P589.09</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260617P00598090"/>
        </identifiers>
        <balance>18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>47227.98000000</valUSD>
        <pctVal>0.357355373023</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>18.00000000</shareNo>
            <exercisePrice>598.09000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-06-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-12988.47000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>PUT S&amp;P 500 MINI INDEX 05/20/26 P584.46</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260520P00584460"/>
        </identifiers>
        <balance>18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>39326.54000000</valUSD>
        <pctVal>0.297568313771</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>18.00000000</shareNo>
            <exercisePrice>584.46000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-05-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-21277.00000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>PUT S&amp;P 500 MINI INDEX 01/21/26 P594.99</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260121P00594990"/>
        </identifiers>
        <balance>18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>32552.62000000</valUSD>
        <pctVal>0.246312750682</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>18.00000000</shareNo>
            <exercisePrice>594.99000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-01-21</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-21701.88000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>S&amp;P 500 MINI INDEX</name>
        <lei>N/A</lei>
        <title>PUT S&amp;P 500 MINI INDEX 08/20/25 P562.09</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   250820P00562090"/>
        </identifiers>
        <balance>18.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4656.41000000</valUSD>
        <pctVal>0.035233205665</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Soc Gen</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 MINI INDEX</indexName>
                <indexIdentifier>XSP</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>18.00000000</shareNo>
            <exercisePrice>562.09000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-08-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-32108.67000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-08-05</ncom:dateSigned>
      <ncom:nameOfApplicant>World Funds Trust</ncom:nameOfApplicant>
      <ncom:signature>Ann MacDonald</ncom:signature>
      <ncom:signerName>Ann MacDonald</ncom:signerName>
      <ncom:title>Principal Financial Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
