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        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PALANTIR TECHNOLOGIES INC</name>
        <lei>549300UVN46B3BBDHO85</lei>
        <title>PALANTIR TECHNOLOGIES INC CL A</title>
        <cusip>69608A108</cusip>
        <identifiers>
          <isin value="US69608A1088"/>
          <ticker value="PLTR"/>
        </identifiers>
        <balance>-8666.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1011062.22000000</valUSD>
        <pctVal>-1.53464022056</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PAYMENTUS HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>PAYMENTUS HOLDINGS INC COM CL A</title>
        <cusip>70439P108</cusip>
        <identifiers>
          <isin value="US70439P1084"/>
          <ticker value="PAY"/>
        </identifiers>
        <balance>-40000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-966400.00000000</valUSD>
        <pctVal>-1.46684969512</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ADT INC</name>
        <lei>N/A</lei>
        <title>ADT INC COM</title>
        <cusip>00090Q103</cusip>
        <identifiers>
          <isin value="US00090Q1031"/>
          <ticker value="ADT"/>
        </identifiers>
        <balance>-125000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-812500.00000000</valUSD>
        <pctVal>-1.23325266689</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INTAPP INC</name>
        <lei>529900NMU89HO9PL5020</lei>
        <title>INTAPP INC COM</title>
        <cusip>45827U109</cusip>
        <identifiers>
          <isin value="US45827U1097"/>
          <ticker value="INTA"/>
        </identifiers>
        <balance>-40000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1008400.00000000</valUSD>
        <pctVal>-1.53059937144</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN INTERNATIONAL GROUP INC</name>
        <lei>ODVCVCQG2BP6VHV36M30</lei>
        <title>AMERICAN INTERNATIONAL GROUP INC COM NEW</title>
        <cusip>026874784</cusip>
        <identifiers>
          <isin value="US0268747849"/>
          <ticker value="AIG"/>
        </identifiers>
        <balance>-20000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1490600.00000000</valUSD>
        <pctVal>-2.26250636956</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JEFFERIES FINANCIAL GROUP INC</name>
        <lei>549300HOF34RGOJ5YL07</lei>
        <title>JEFFERIES FINANCIAL GROUP INC COM</title>
        <cusip>47233W109</cusip>
        <identifiers>
          <isin value="US47233W1099"/>
          <ticker value="JEF"/>
        </identifiers>
        <balance>-25000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1249500.00000000</valUSD>
        <pctVal>-1.89655287050</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CBIZ INC</name>
        <lei>529900D5X8CFM8O1N813</lei>
        <title>CBIZ INC COM</title>
        <cusip>124805102</cusip>
        <identifiers>
          <isin value="US1248051021"/>
          <ticker value="CBZ"/>
        </identifiers>
        <balance>-30000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-962400.00000000</valUSD>
        <pctVal>-1.46077829737</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALEXANDRIA REAL ESTATE EQUITIES INC</name>
        <lei>MGCJBT4MKTQBVLNUIS88</lei>
        <title>ALEXANDRIA REAL ESTATE EQUITIES INC COM</title>
        <cusip>015271109</cusip>
        <identifiers>
          <isin value="US0152711091"/>
          <ticker value="ARE"/>
        </identifiers>
        <balance>-35000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1849750.00000000</valUSD>
        <pctVal>-2.80764199457</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EQUIFAX INC</name>
        <lei>5493004MCF8JDC86VS77</lei>
        <title>EQUIFAX INC COM</title>
        <cusip>294429105</cusip>
        <identifiers>
          <isin value="US2944291051"/>
          <ticker value="EFX"/>
        </identifiers>
        <balance>-8000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1269760.00000000</valUSD>
        <pctVal>-1.92730450008</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WPP PLC</name>
        <lei>549300LSGBXPYHXGDT93</lei>
        <title>WPP PLC ADR</title>
        <cusip>92937A102</cusip>
        <identifiers>
          <isin value="US92937A1025"/>
          <ticker value="WPP"/>
        </identifiers>
        <balance>-50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-774500.00000000</valUSD>
        <pctVal>-1.17557438832</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PRUDENTIAL PLC</name>
        <lei>5493001Z3ZE83NGK8Y12</lei>
        <title>PRUDENTIAL PLC ADR</title>
        <cusip>74435K204</cusip>
        <identifiers>
          <isin value="US74435K2042"/>
          <ticker value="PUK"/>
        </identifiers>
        <balance>-40000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1072400.00000000</valUSD>
        <pctVal>-1.62774173535</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GRAND CANYON EDUCATION INC</name>
        <lei>529900XFER799IYOSW74</lei>
        <title>GRAND CANYON EDUCATION INC COM</title>
        <cusip>38526M106</cusip>
        <identifiers>
          <isin value="US38526M1062"/>
          <ticker value="LOPE"/>
        </identifiers>
        <balance>-10000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1431100.00000000</valUSD>
        <pctVal>-2.17219432811</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OZK</name>
        <lei>549300VYK2WBD7SST478</lei>
        <title>BANK OZK COM</title>
        <cusip>06417N103</cusip>
        <identifiers>
          <isin value="US06417N1037"/>
          <ticker value="OZK"/>
        </identifiers>
        <balance>-40000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-2083600.00000000</valUSD>
        <pctVal>-3.16259108522</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SYNCHRONY FINANCIAL</name>
        <lei>549300RS7EWPM9MA6C78</lei>
        <title>SYNCHRONY FINANCIAL COM</title>
        <cusip>87165B103</cusip>
        <identifiers>
          <isin value="US87165B1035"/>
          <ticker value="SYF"/>
        </identifiers>
        <balance>-13000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-988650.00000000</valUSD>
        <pctVal>-1.50062184507</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>O'REILLY AUTOMOTIVE INC</name>
        <lei>549300K2RLMQL149Q332</lei>
        <title>O'REILLY AUTOMOTIVE INC COM</title>
        <cusip>67103H107</cusip>
        <identifiers>
          <isin value="US67103H1077"/>
          <ticker value="ORLY"/>
        </identifiers>
        <balance>-10000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-920900.00000000</valUSD>
        <pctVal>-1.39778754577</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ARES MANAGEMENT CORP</name>
        <lei>529900JUV61FH7B8VW38</lei>
        <title>ARES MANAGEMENT CORP CL A COM STK</title>
        <cusip>03990B101</cusip>
        <identifiers>
          <isin value="US03990B1017"/>
          <ticker value="ARES"/>
        </identifiers>
        <balance>-8000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-890480.00000000</valUSD>
        <pctVal>-1.35161456592</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PTC INC</name>
        <lei>54930050SSMU8SKDJ030</lei>
        <title>PTC INC COM</title>
        <cusip>69370C100</cusip>
        <identifiers>
          <isin value="US69370C1009"/>
          <ticker value="PTC"/>
        </identifiers>
        <balance>-7000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-795270.00000000</valUSD>
        <pctVal>-1.20710012111</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EXPONENT INC</name>
        <lei>529900NY3F5Q2NWPUZ42</lei>
        <title>EXPONENT INC COM</title>
        <cusip>30214U102</cusip>
        <identifiers>
          <isin value="US30214U1025"/>
          <ticker value="EXPO"/>
        </identifiers>
        <balance>-15000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-881400.00000000</valUSD>
        <pctVal>-1.33783249304</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Q2 HOLDINGS INC</name>
        <lei>549300M9RKR9DZXWS696</lei>
        <title>Q2 HOLDINGS INC COM</title>
        <cusip>74736L109</cusip>
        <identifiers>
          <isin value="US74736L1098"/>
          <ticker value="QTWO"/>
        </identifiers>
        <balance>-20000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-962000.00000000</valUSD>
        <pctVal>-1.46017115760</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALARM.COM HOLDINGS INC</name>
        <lei>549300HIH92U1EKIHZ32</lei>
        <title>ALARM.COM HOLDINGS INC COM</title>
        <cusip>011642105</cusip>
        <identifiers>
          <isin value="US0116421050"/>
          <ticker value="ALRM"/>
        </identifiers>
        <balance>-40000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1868800.00000000</valUSD>
        <pctVal>-2.83655702633</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FAIR ISAAC CORP</name>
        <lei>RI6HET5SJUEY30V1PS26</lei>
        <title>FAIR ISAAC CORP COM</title>
        <cusip>303250104</cusip>
        <identifiers>
          <isin value="US3032501047"/>
          <ticker value="FICO"/>
        </identifiers>
        <balance>-1000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1194780.00000000</valUSD>
        <pctVal>-1.81349614935</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COVISTA INC</name>
        <lei>549300Z467EZLMODV621</lei>
        <title>COVISTA INC COM</title>
        <cusip>00737L103</cusip>
        <identifiers>
          <isin value="US00737L1035"/>
          <ticker value="CVSA"/>
        </identifiers>
        <balance>-12000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1495920.00000000</valUSD>
        <pctVal>-2.27058132857</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BXP INC</name>
        <lei>549300OF70FSEUQBT254</lei>
        <title>BXP INC COM</title>
        <cusip>101121101</cusip>
        <identifiers>
          <isin value="US1011211018"/>
          <ticker value="BXP"/>
        </identifiers>
        <balance>-15000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-994650.00000000</valUSD>
        <pctVal>-1.50972894169</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MONRO INC</name>
        <lei>N/A</lei>
        <title>MONRO INC COM</title>
        <cusip>610236101</cusip>
        <identifiers>
          <isin value="US6102361010"/>
          <ticker value="MNRO"/>
        </identifiers>
        <balance>-50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-855500.00000000</valUSD>
        <pctVal>-1.29852019265</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PREFERRED BANK (CALIFORNIA)</name>
        <lei>5493007K6HGI9G0ECX16</lei>
        <title>PREFERRED BANK (CALIFORNIA) COM NEW</title>
        <cusip>740367404</cusip>
        <identifiers>
          <isin value="US7403674044"/>
          <ticker value="PFBC"/>
        </identifiers>
        <balance>-15000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1593900.00000000</valUSD>
        <pctVal>-2.41930021632</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CARVANA COMPANY</name>
        <lei>5493003WEAK2PJ5WS063</lei>
        <title>CARVANA COMPANY CL A</title>
        <cusip>146869102</cusip>
        <identifiers>
          <isin value="US1468691027"/>
          <ticker value="CVNA"/>
        </identifiers>
        <balance>-21930.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1443432.60000000</valUSD>
        <pctVal>-2.19091335807</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PROCORE TECHNOLOGIES INC</name>
        <lei>5493005PTWY0RHYRAH22</lei>
        <title>PROCORE TECHNOLOGIES INC COM</title>
        <cusip>74275K108</cusip>
        <identifiers>
          <isin value="US74275K1088"/>
          <ticker value="PCOR"/>
        </identifiers>
        <balance>-10000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-406200.00000000</valUSD>
        <pctVal>-0.61655044097</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DILLARD'S INC</name>
        <lei>529900FGYKMWL6019P91</lei>
        <title>DILLARD'S INC CL A</title>
        <cusip>254067101</cusip>
        <identifiers>
          <isin value="US2540671011"/>
          <ticker value="DDS"/>
        </identifiers>
        <balance>-2000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1056840.00000000</valUSD>
        <pctVal>-1.60412399813</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALLY FINANCIAL INC</name>
        <lei>549300JBN1OSM8YNAI90</lei>
        <title>ALLY FINANCIAL INC COM</title>
        <cusip>02005N100</cusip>
        <identifiers>
          <isin value="US02005N1000"/>
          <ticker value="ALLY"/>
        </identifiers>
        <balance>-35000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1608250.00000000</valUSD>
        <pctVal>-2.44108135573</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DRAFTKINGS INC</name>
        <lei>2549006G33IUL6IVOD83</lei>
        <title>DRAFTKINGS INC COM CL A</title>
        <cusip>26142V105</cusip>
        <identifiers>
          <isin value="US26142V1052"/>
          <ticker value="DKNG"/>
        </identifiers>
        <balance>-40000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1010400.00000000</valUSD>
        <pctVal>-1.53363507031</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNIVERSAL DISPLAY CORP</name>
        <lei>N/A</lei>
        <title>UNIVERSAL DISPLAY CORP COM</title>
        <cusip>91347P105</cusip>
        <identifiers>
          <isin value="US91347P1057"/>
          <ticker value="OLED"/>
        </identifiers>
        <balance>-10000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-865900.00000000</valUSD>
        <pctVal>-1.31430582678</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WESTERN ALLIANCE BANCORP</name>
        <lei>5493003VJXZ5JXT9S762</lei>
        <title>WESTERN ALLIANCE BANCORP COM</title>
        <cusip>957638109</cusip>
        <identifiers>
          <isin value="US9576381092"/>
          <ticker value="WAL"/>
        </identifiers>
        <balance>-15000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1233000.00000000</valUSD>
        <pctVal>-1.87150835480</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INVITATION HOMES INC</name>
        <lei>984500FE452E665C9F85</lei>
        <title>INVITATION HOMES INC COM</title>
        <cusip>46187W107</cusip>
        <identifiers>
          <isin value="US46187W1071"/>
          <ticker value="INVH"/>
        </identifiers>
        <balance>-55000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1661550.00000000</valUSD>
        <pctVal>-2.52198273068</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>THOMSON REUTERS CORP</name>
        <lei>549300561UZND4C7B569</lei>
        <title>THOMSON REUTERS CORP COM</title>
        <cusip>884903881</cusip>
        <identifiers>
          <isin value="CA8849038812"/>
          <ticker value="TRI"/>
        </identifiers>
        <balance>-10000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-816700.00000000</valUSD>
        <pctVal>-1.23962763452</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TRANSUNION</name>
        <lei>549300ZS772LUNUMRB03</lei>
        <title>TRANSUNION COM</title>
        <cusip>89400J107</cusip>
        <identifiers>
          <isin value="US89400J1079"/>
          <ticker value="TRU"/>
        </identifiers>
        <balance>-15000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1082100.00000000</valUSD>
        <pctVal>-1.64246487489</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GLOBAL-E ONLINE LTD</name>
        <lei>N/A</lei>
        <title>GLOBAL-E ONLINE LTD SHS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0011741688"/>
          <ticker value="GLBE"/>
        </identifiers>
        <balance>-35000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1215550.00000000</valUSD>
        <pctVal>-1.84502188214</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASBURY AUTOMOTIVE GROUP INC</name>
        <lei>549300JH4DTA7U42GL91</lei>
        <title>ASBURY AUTOMOTIVE GROUP INC COM</title>
        <cusip>043436104</cusip>
        <identifiers>
          <isin value="US0434361046"/>
          <ticker value="ABG"/>
        </identifiers>
        <balance>-5000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1005400.00000000</valUSD>
        <pctVal>-1.52604582313</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ONEMAIN HOLDINGS INC</name>
        <lei>549300E3VEW8SMS5XW09</lei>
        <title>ONEMAIN HOLDINGS INC COM</title>
        <cusip>68268W103</cusip>
        <identifiers>
          <isin value="US68268W1036"/>
          <ticker value="OMF"/>
        </identifiers>
        <balance>-30000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1829100.00000000</valUSD>
        <pctVal>-2.77629840371</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BOOZ ALLEN HAMILTON HOLDING CORP</name>
        <lei>529900JPV47PIUWMA015</lei>
        <title>BOOZ ALLEN HAMILTON HOLDING CORP CL A</title>
        <cusip>099502106</cusip>
        <identifiers>
          <isin value="US0995021062"/>
          <ticker value="BAH"/>
        </identifiers>
        <balance>-20000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1213400.00000000</valUSD>
        <pctVal>-1.84175850586</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SIGNET JEWELERS LTD</name>
        <lei>549300N3XPGE91WV7M22</lei>
        <title>SIGNET JEWELERS LTD SHS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG812761002"/>
          <ticker value="SIG"/>
        </identifiers>
        <balance>-15000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1293000.00000000</valUSD>
        <pctVal>-1.96257932098</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO &amp; COMPANY COM</title>
        <cusip>949746101</cusip>
        <identifiers>
          <isin value="US9497461015"/>
          <ticker value="WFC"/>
        </identifiers>
        <balance>-10000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-826400.00000000</valUSD>
        <pctVal>-1.25435077405</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BATH &amp; BODY WORKS INC</name>
        <lei>GR3KVMWVCR54YWQNXU90</lei>
        <title>BATH &amp; BODY WORKS INC COM</title>
        <cusip>070830104</cusip>
        <identifiers>
          <isin value="US0708301041"/>
          <ticker value="BBWI"/>
        </identifiers>
        <balance>-50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1156500.00000000</valUSD>
        <pctVal>-1.75539287294</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MANHATTAN ASSOCIATES INC</name>
        <lei>529900Q1GJP7KD52SW51</lei>
        <title>MANHATTAN ASSOCIATES INC COM</title>
        <cusip>562750109</cusip>
        <identifiers>
          <isin value="US5627501092"/>
          <ticker value="MANH"/>
        </identifiers>
        <balance>-10000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1392500.00000000</valUSD>
        <pctVal>-2.11360533988</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PAYCHEX INC</name>
        <lei>529900K900DW6SUBM174</lei>
        <title>PAYCHEX INC COM</title>
        <cusip>704326107</cusip>
        <identifiers>
          <isin value="US7043261079"/>
          <ticker value="PAYX"/>
        </identifiers>
        <balance>-10000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-983300.00000000</valUSD>
        <pctVal>-1.49250135059</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BlackRock Liquidity FedFund</name>
        <lei>549300T8K043VZEOVK74</lei>
        <title>BlackRock Liquidity FedFund</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="TFDXX"/>
          <other otherDesc="INTERNAL" value="X9USDBLFD"/>
        </identifiers>
        <balance>2373970.25000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2373970.25000000</valUSD>
        <pctVal>3.603329405470</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>VERISK ANALYTICS INC</name>
        <lei>549300I1YSWNIRKBWP67</lei>
        <title>VERISK ANALYTICS INC COM</title>
        <cusip>92345Y106</cusip>
        <identifiers>
          <isin value="US92345Y1064"/>
          <ticker value="VRSK"/>
        </identifiers>
        <balance>-6000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-1077180.00000000</valUSD>
        <pctVal>-1.63499705566</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FACTSET RESEARCH SYSTEMS INC</name>
        <lei>549300ZSJE7NBK6K9P30</lei>
        <title>FACTSET RESEARCH SYSTEMS INC COM</title>
        <cusip>303075105</cusip>
        <identifiers>
          <isin value="US3030751057"/>
          <ticker value="FDS"/>
        </identifiers>
        <balance>-4000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-920320.00000000</valUSD>
        <pctVal>-1.39690719310</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BOOT BARN HOLDINGS INC</name>
        <lei>529900QE1BFMYA3N4E71</lei>
        <title>BOOT BARN HOLDINGS INC COM</title>
        <cusip>099406100</cusip>
        <identifiers>
          <isin value="US0994061002"/>
          <ticker value="BOOT"/>
        </identifiers>
        <balance>-5000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-821350.00000000</valUSD>
        <pctVal>-1.24668563440</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RADNET INC</name>
        <lei>529900RECG94V2IZJ970</lei>
        <title>RADNET INC COM</title>
        <cusip>750491102</cusip>
        <identifiers>
          <isin value="US7504911022"/>
          <ticker value="RDNT"/>
        </identifiers>
        <balance>-15000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-925050.00000000</valUSD>
        <pctVal>-1.40408662093</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BUILDERS FIRSTSOURCE INC</name>
        <lei>549300W0SKP6L3H7DP63</lei>
        <title>BUILDERS FIRSTSOURCE INC COM</title>
        <cusip>12008R107</cusip>
        <identifiers>
          <isin value="US12008R1077"/>
          <ticker value="BLDR"/>
        </identifiers>
        <balance>-10000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-894800.00000000</valUSD>
        <pctVal>-1.35817167549</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-08-21</ncom:dateSigned>
      <ncom:nameOfApplicant>AdvisorShares Trust</ncom:nameOfApplicant>
      <ncom:signature>Dan Ahrens</ncom:signature>
      <ncom:signerName>Dan Ahrens</ncom:signerName>
      <ncom:title>Secretary and Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
