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

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


      <seriesClassInfo>
        <seriesId>S000075530</seriesId>
        <classId>C000234711</classId>
        <classId>C000234710</classId>
      </seriesClassInfo>


    </filerInfo>
  </headerData>
  <formData>
    <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 20% Buffer Strategies VI Fund</seriesName>
      <seriesId>S000075530</seriesId>
      <seriesLei>549300QU2CG58RMEUM89</seriesLei>
      <repPdEnd>2025-12-31</repPdEnd>
      <repPdDate>2025-06-30</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>762130.94</totAssets>
      <totLiabs>20132.04</totLiabs>
      <netAssets>741998.90</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>53.06000000</cshNotRptdInCorD>
      <isNonCashCollateral>N</isNonCashCollateral>
      <returnInfo>
        <monthlyTotReturns>
          <monthlyTotReturn classId="C000234711" rtn1="-0.41000000" rtn2="2.99000000" rtn3="1.92000000"/>
          <monthlyTotReturn classId="C000234710" rtn1="-0.36000000" rtn2="3.01000000" rtn3="1.95000000"/>
        </monthlyTotReturns>
        <monthlyReturnCats>
          <equityContracts>
            <mon1 netRealizedGain="2744.37000000" netUnrealizedAppr="-4911.47000000"/>
            <mon2 netRealizedGain="5314.09000000" netUnrealizedAppr="16210.60000000"/>
            <mon3 netRealizedGain="5078.33000000" netUnrealizedAppr="11385.29000000"/>
            <optionCategory>
              <instrMon1 netRealizedGain="2744.37000000" netUnrealizedAppr="-4911.47000000"/>
              <instrMon2 netRealizedGain="5314.09000000" netUnrealizedAppr="16210.60000000"/>
              <instrMon3 netRealizedGain="5078.33000000" netUnrealizedAppr="11385.29000000"/>
            </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="324.52000000" reinvestment="0.00000000" sales="0.00000000"/>
      <mon2Flow redemption="320.75000000" reinvestment="0.00000000" sales="0.00000000"/>
      <mon3Flow redemption="304.19000000" reinvestment="0.00000000" sales="46.08000000"/>



      <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>PUT S&amp;P 500 MINI 08/20/2025 P449.66</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   250820P00449660"/>
        </identifiers>
        <balance>-1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-16.09000000</valUSD>
        <pctVal>-0.00216846682</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>-1.00000000</shareNo>
            <exercisePrice>449.66000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-08-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>743.48000000</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 P591.7</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   251119P00591700"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1354.92000000</valUSD>
        <pctVal>0.182604044291</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>1.00000000</shareNo>
            <exercisePrice>591.70000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-11-19</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-1441.48000000</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 C0.02</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   250716C00000020"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>62031.39000000</valUSD>
        <pctVal>8.360038000056</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>1.00000000</shareNo>
            <exercisePrice>0.02000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-07-16</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>8763.99000000</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 C0.02</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260318C00000020"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>61771.38000000</valUSD>
        <pctVal>8.324996169131</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>1.00000000</shareNo>
            <exercisePrice>0.02000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-03-18</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>5245.98000000</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>CALL S&amp;P 500 MINI INDEX 10/15/25 C642.2</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   251015C00642200"/>
        </identifiers>
        <balance>-1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1139.93000000</valUSD>
        <pctVal>-0.15362960780</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>-1.00000000</shareNo>
            <exercisePrice>642.20000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-10-15</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>574.62000000</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 P584.45</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260520P00584450"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2184.57000000</valUSD>
        <pctVal>0.294416878515</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>1.00000000</shareNo>
            <exercisePrice>584.45000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-05-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-1181.83000000</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 01/21/2026 P594.98</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260121C00594980"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1808.35000000</valUSD>
        <pctVal>0.243713299305</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>1.00000000</shareNo>
            <exercisePrice>594.98000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-01-21</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-1072.05000000</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 C594.16</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260415C00626700"/>
        </identifiers>
        <balance>-1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-6359.77000000</valUSD>
        <pctVal>-0.85711313049</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>-1.00000000</shareNo>
            <exercisePrice>626.70000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-04-15</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-4379.23000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SPDR S&amp;P 500 ETF</name>
        <lei>N/A</lei>
        <title>CALL S&amp;P 500 MINI INDE 02/18/2026 C0.02</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US78462F1030"/>
          <other otherDesc="OCC" value="SPY   260218C00000020"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>61812.10000000</valUSD>
        <pctVal>8.330484047887</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>SPDR S&amp;P 500 ETF</indexName>
                <indexIdentifier>SPY</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>1.00000000</shareNo>
            <exercisePrice>0.02000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-02-18</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>365.70000000</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 C627.31</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260318C00627310"/>
        </identifiers>
        <balance>-1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-3770.25000000</valUSD>
        <pctVal>-0.50812069937</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>-1.00000000</shareNo>
            <exercisePrice>627.31000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-03-18</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-2074.70000000</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 C655.14</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260121C00655140"/>
        </identifiers>
        <balance>-1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1634.01000000</valUSD>
        <pctVal>-0.22021730759</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>-1.00000000</shareNo>
            <exercisePrice>655.14000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-01-21</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-65.46000000</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 C617.2</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   250917C00617280"/>
        </identifiers>
        <balance>-1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-2167.61000000</valUSD>
        <pctVal>-0.29213116084</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>-1.00000000</shareNo>
            <exercisePrice>617.28000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-09-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-198.07000000</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 P473.36</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   251119P00473360"/>
        </identifiers>
        <balance>-1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-257.28000000</valUSD>
        <pctVal>-0.03467390585</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>-1.00000000</shareNo>
            <exercisePrice>473.36000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-11-19</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>366.30000000</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 C0.02</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260121C00000020"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>61823.65000000</valUSD>
        <pctVal>8.332040653968</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>1.00000000</shareNo>
            <exercisePrice>0.02000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-01-21</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>2570.25000000</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 P598.08</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260617P00598080"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2623.50000000</valUSD>
        <pctVal>0.353571952734</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>1.00000000</shareNo>
            <exercisePrice>598.08000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-06-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-762.80000000</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  INDEX 02/18/2026 P491.53</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260218P00491530"/>
        </identifiers>
        <balance>-1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-622.87000000</valUSD>
        <pctVal>-0.08394486838</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>-1.00000000</shareNo>
            <exercisePrice>491.53000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-02-18</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>38.71000000</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 INDEX 01/21/2026 P475.99</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260121P00475990"/>
        </identifiers>
        <balance>-1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-444.97000000</valUSD>
        <pctVal>-0.05996909159</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>-1.00000000</shareNo>
            <exercisePrice>475.99000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-01-21</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>212.61000000</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 C0.02</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   250917C00000020"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>61955.20000000</valUSD>
        <pctVal>8.349769790763</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>1.00000000</shareNo>
            <exercisePrice>0.02000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-09-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>6141.80000000</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 P449.46</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   250917P00449460"/>
        </identifiers>
        <balance>-1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-58.32000000</valUSD>
        <pctVal>-0.00785984992</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>-1.00000000</shareNo>
            <exercisePrice>449.46000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-09-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>955.25000000</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 C0.02</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   251119C00000020"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>61878.84000000</valUSD>
        <pctVal>8.339478670386</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>1.00000000</shareNo>
            <exercisePrice>0.02000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-11-19</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>2817.44000000</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 P467.39</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   251015P00467390"/>
        </identifiers>
        <balance>-1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-145.98000000</valUSD>
        <pctVal>-0.01967388361</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>-1.00000000</shareNo>
            <exercisePrice>467.39000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-10-15</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>651.59000000</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 C664.05</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260617C00664050"/>
        </identifiers>
        <balance>-1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-2540.20000000</valUSD>
        <pctVal>-0.34234552099</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>-1.00000000</shareNo>
            <exercisePrice>664.05000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-06-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-923.50000000</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>PUT S&amp;P 500 MINI INDEX 04/15/26 P527.56</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260415P00527560"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1160.88000000</valUSD>
        <pctVal>0.156453062127</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>1.00000000</shareNo>
            <exercisePrice>527.56000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-04-15</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-2759.52000000</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 P587.21</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   251217P00587210"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1443.35000000</valUSD>
        <pctVal>0.194521851717</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>1.00000000</shareNo>
            <exercisePrice>587.21000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-12-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-1513.05000000</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 C0.02</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260415C00000020"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>61759.31000000</valUSD>
        <pctVal>8.323369482084</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>1.00000000</shareNo>
            <exercisePrice>0.02000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-04-15</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>9513.91000000</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 08/20/2025 C620.76</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   250820C00620760"/>
        </identifiers>
        <balance>-1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1456.08000000</valUSD>
        <pctVal>-0.19623748768</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>-1.00000000</shareNo>
            <exercisePrice>620.76000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-08-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-52.52000000</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 P561.82</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   250917P00561820"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>462.46000000</valUSD>
        <pctVal>0.062326237949</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>1.00000000</shareNo>
            <exercisePrice>561.82000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-09-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-2404.94000000</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 11/19/25 C653.89</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   251119C00653890"/>
        </identifiers>
        <balance>-1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1056.30000000</valUSD>
        <pctVal>-0.14235870160</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>-1.00000000</shareNo>
            <exercisePrice>653.89000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-11-19</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>565.25000000</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 P422.05</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260415P00422050"/>
        </identifiers>
        <balance>-1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-362.93000000</valUSD>
        <pctVal>-0.04891247143</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>-1.00000000</shareNo>
            <exercisePrice>422.05000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-04-15</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>926.63000000</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  INDEX 02/18/2026 P614.41</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260218P00614410"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2456.29000000</valUSD>
        <pctVal>0.331036878895</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>1.00000000</shareNo>
            <exercisePrice>614.41000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-02-18</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-415.11000000</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 P584.24</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   251015P00584240"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>944.05000000</valUSD>
        <pctVal>0.127230646837</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>1.00000000</shareNo>
            <exercisePrice>584.24000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-10-15</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-1972.35000000</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 08/20/2025 P562.08</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   250820P00562080"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>258.63000000</valUSD>
        <pctVal>0.034855846821</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>1.00000000</shareNo>
            <exercisePrice>562.08000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-08-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-2342.77000000</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>16416.88000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16416.88000000</valUSD>
        <pctVal>2.212520800232</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 07/16/2025 P447.06</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   250716P00447060"/>
        </identifiers>
        <balance>-1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</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>-1.00000000</shareNo>
            <exercisePrice>447.06000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-07-16</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>616.58000000</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 12/17/25 C0.02</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   251217C00000020"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>61838.33000000</valUSD>
        <pctVal>8.334019093559</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>1.00000000</shareNo>
            <exercisePrice>0.02000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-12-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>4513.93000000</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 P469.77</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   251217P00469770"/>
        </identifiers>
        <balance>-1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-334.60000000</valUSD>
        <pctVal>-0.04509440647</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>-1.00000000</shareNo>
            <exercisePrice>469.77000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-12-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>307.98000000</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 INDEX 06/17/26 P478.47</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260617P00478470"/>
        </identifiers>
        <balance>-1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-832.85000000</valUSD>
        <pctVal>-0.11224410170</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>-1.00000000</shareNo>
            <exercisePrice>478.47000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-06-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-10.15000000</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 07/16/2025 P558.82</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   250716P00558820"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>25.12000000</valUSD>
        <pctVal>0.003385449762</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>1.00000000</shareNo>
            <exercisePrice>558.82000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-07-16</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-3516.28000000</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 08/20/2025 C0.02</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   250820C00000020"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>61998.51000000</valUSD>
        <pctVal>8.355606726640</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>1.00000000</shareNo>
            <exercisePrice>0.02000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-08-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>6153.11000000</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 C0.02</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260520C00000020"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>61728.96000000</valUSD>
        <pctVal>8.319279179524</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>1.00000000</shareNo>
            <exercisePrice>0.02000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-05-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>3768.56000000</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 C675.76</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260218C00675760"/>
        </identifiers>
        <balance>-1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1061.22000000</valUSD>
        <pctVal>-0.14302177536</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>-1.00000000</shareNo>
            <exercisePrice>675.76000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-02-18</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>339.34000000</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 P567.52</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260318P00567520"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1597.54000000</valUSD>
        <pctVal>0.215302205973</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>1.00000000</shareNo>
            <exercisePrice>567.52000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-03-18</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-1562.86000000</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 06/17/26 C0.02</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260617C00000020"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>61697.31000000</valUSD>
        <pctVal>8.315013674548</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>1.00000000</shareNo>
            <exercisePrice>0.02000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-06-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>2394.01000000</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>CALL S&amp;P 500 MINI 07/16/2025 C621.41</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   250716C00621410"/>
        </identifiers>
        <balance>-1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-628.61000000</valUSD>
        <pctVal>-0.08471845443</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>-1.00000000</shareNo>
            <exercisePrice>621.41000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-07-16</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>763.95000000</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 C649.63</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   251217C00649630"/>
        </identifiers>
        <balance>-1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1553.77000000</valUSD>
        <pctVal>-0.20940327539</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>-1.00000000</shareNo>
            <exercisePrice>649.63000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-12-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-917.19000000</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 P454.02</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260318P00454020"/>
        </identifiers>
        <balance>-1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-471.52000000</valUSD>
        <pctVal>-0.06354726401</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>-1.00000000</shareNo>
            <exercisePrice>454.02000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-03-18</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>231.06000000</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 P467.56</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260520P00467560"/>
        </identifiers>
        <balance>-1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-688.83000000</valUSD>
        <pctVal>-0.09283436943</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>-1.00000000</shareNo>
            <exercisePrice>467.56000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-05-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>320.77000000</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 C0.02</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   251015C00000020"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>61926.24000000</valUSD>
        <pctVal>8.345866820018</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>1.00000000</shareNo>
            <exercisePrice>0.02000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2025-10-15</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>3759.84000000</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 05/20/26 C648.36</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <other otherDesc="OCC" value="XSP   260520C00648360"/>
        </identifiers>
        <balance>-1.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-3119.53000000</valUSD>
        <pctVal>-0.42042245615</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>-1.00000000</shareNo>
            <exercisePrice>648.36000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-05-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-1310.93000000</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>
