<?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>0001437249</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>


      <seriesClassInfo>
        <seriesId>S000039946</seriesId>
        <classId>C000123868</classId>
      </seriesClassInfo>


    </filerInfo>
  </headerData>
  <formData>
    <genInfo>
      <regName>Valued Advisers Trust</regName>
      <regFileNumber>811-22208</regFileNumber>
      <regCik>0001437249</regCik>
      <regLei>549300W12YUPFS7QVT86</regLei>
      <regStreet1>225 Pictoria Drive</regStreet1>
      <regStreet2>Suite 450</regStreet2>
      <regCity>Cincinnati</regCity>
      <regStateConditional regCountry="US" regState="US-OH"/>
      <regZipOrPostalCode>45246</regZipOrPostalCode>
      <regPhone>513-587-3400</regPhone>
      <seriesName>SOUND MIND INVESTING</seriesName>
      <seriesId>S000039946</seriesId>
      <seriesLei>549300L5369VQJ9OOL46</seriesLei>
      <repPdEnd>2021-10-31</repPdEnd>
      <repPdDate>2021-04-30</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>152005765.74</totAssets>
      <totLiabs>1156816.87</totLiabs>
      <netAssets>150848948.87</netAssets>
      <assetsAttrMiscSec>0.00000000</assetsAttrMiscSec>
      <assetsInvested>0.00000000</assetsInvested>
      <amtPayOneYrBanksBorr>0.00000000</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0.00000000</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0.00000000</amtPayOneYrOthAffil>
      <amtPayOneYrOther>0.00000000</amtPayOneYrOther>
      <amtPayAftOneYrBanksBorr>0.00000000</amtPayAftOneYrBanksBorr>
      <amtPayAftOneYrCtrldComp>0.00000000</amtPayAftOneYrCtrldComp>
      <amtPayAftOneYrOthAffil>0.00000000</amtPayAftOneYrOthAffil>
      <amtPayAftOneYrOther>0.00000000</amtPayAftOneYrOther>
      <delayDeliv>0.00000000</delayDeliv>
      <standByCommit>0.00000000</standByCommit>
      <liquidPref>0.00000000</liquidPref>
      <cshNotRptdInCorD>0</cshNotRptdInCorD>
      <isNonCashCollateral>N</isNonCashCollateral>
      <returnInfo>
        <monthlyTotReturns>
          <monthlyTotReturn classId="C000123868" rtn1="1.60898100" rtn2="0.39592800" rtn3="3.07577000"/>
        </monthlyTotReturns>
        <othMon1 netRealizedGain="485703.00000000" netUnrealizedAppr="2086095.84000000"/>
        <othMon2 netRealizedGain="18172725.11000000" netUnrealizedAppr="-17710773.15000000"/>
        <othMon3 netRealizedGain="2014879.46000000" netUnrealizedAppr="2648237.81000000"/>
      </returnInfo>
      <mon1Flow redemption="2569637.54000000" reinvestment="0.00000000" sales="1440055.34000000"/>
      <mon2Flow redemption="4533205.96000000" reinvestment="0.00000000" sales="1345286.89000000"/>
      <mon3Flow redemption="1496039.81000000" reinvestment="0.00000000" sales="1214235.93000000"/>

    </fundInfo>
    <invstOrSecs>
      <invstOrSec>
        <name>Columbia Funds Series Trust I</name>
        <lei>549300W5GIE6ZOZOTD82</lei>
        <title>Columbia Small Cap Growth Fund I </title>
        <cusip>19765P596</cusip>
        <identifiers>
          <isin value="US19765P5961"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3442.00000000</valUSD>
        <pctVal>0.002281752724</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Artisan Partners Funds Inc.</name>
        <lei>H441S2FJOUSVWTYA1B25</lei>
        <title>Artisan International Small Cap Fund </title>
        <cusip>04314H808</cusip>
        <identifiers>
          <isin value="US04314H8088"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2115.00000000</valUSD>
        <pctVal>0.001402064791</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Aim International Mutual Funds (Invesco International Mutual Funds)</name>
        <lei>N/A</lei>
        <title>Invesco Oppenheimer International Small-Mid Co Fnd </title>
        <cusip>00900W530</cusip>
        <identifiers>
          <isin value="US00900W5307"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5628.00000000</valUSD>
        <pctVal>0.003730884465</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Artisan Partners Funds Inc.</name>
        <lei>H441S2FJOUSVWTYA1B25</lei>
        <title>Artisan Small Cap Fund </title>
        <cusip>04314H105</cusip>
        <identifiers>
          <isin value="US04314H1059"/>
        </identifiers>
        <balance>125.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6408.75000000</valUSD>
        <pctVal>0.004248455191</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Blackrock Funds II</name>
        <lei>549300D3TWJFD5S1P721</lei>
        <title>BlackRock International Opportunities Portfolio </title>
        <cusip>091929109</cusip>
        <identifiers>
          <isin value="US0919291098"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3510.00000000</valUSD>
        <pctVal>0.002326830930</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Wasatch Funds Inc</name>
        <lei>N/A</lei>
        <title>Wasatch International Growth Fund </title>
        <cusip>936793405</cusip>
        <identifiers>
          <isin value="US9367934059"/>
        </identifiers>
        <balance>150.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5343.00000000</valUSD>
        <pctVal>0.003541953749</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Artisan Partners Funds Inc.</name>
        <lei>H441S2FJOUSVWTYA1B25</lei>
        <title>Artisan Mid Cap Value Fund </title>
        <cusip>04314H709</cusip>
        <identifiers>
          <isin value="US04314H7098"/>
        </identifiers>
        <balance>279.12000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6523.10000000</valUSD>
        <pctVal>0.004324259498</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Mainstay Funds Trust</name>
        <lei>N/A</lei>
        <title>Mainstay Funds - Mainstay Wmc Enduring Capital Fund</title>
        <cusip>56062X716</cusip>
        <identifiers>
          <isin value="US56062X7167"/>
        </identifiers>
        <balance>17.60000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>581.68000000</valUSD>
        <pctVal>0.000385604277</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Trust For Advised Portfolios</name>
        <lei>549300YZEFREMRTE2K87</lei>
        <title>Miller Opportunity Trust </title>
        <cusip>89832P333</cusip>
        <identifiers>
          <isin value="US89832P3331"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5288.00000000</valUSD>
        <pctVal>0.003505493435</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Heartland Value Fu</name>
        <lei>N/A</lei>
        <title>Heartland Value Fund </title>
        <cusip>422359109</cusip>
        <identifiers>
          <isin value="US4223591094"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5053.00000000</valUSD>
        <pctVal>0.003349708458</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Dfa Invt Dimensions Group Inc</name>
        <lei>N/A</lei>
        <title>DFA International Small Cap Value Portfolio </title>
        <cusip>233203736</cusip>
        <identifiers>
          <isin value="US2332037363"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2139.00000000</valUSD>
        <pctVal>0.001417974746</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Royce Funds</name>
        <lei>N/A</lei>
        <title>Royce Special Equity Fund </title>
        <cusip>780905535</cusip>
        <identifiers>
          <isin value="US7809055350"/>
        </identifiers>
        <balance>150.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3159.00000000</valUSD>
        <pctVal>0.002094147837</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Neuberger berman equity ser</name>
        <lei>5493007JOB1812PHXG23</lei>
        <title>Neuberger Berman Genesis Fund </title>
        <cusip>641233200</cusip>
        <identifiers>
          <isin value="US6412332008"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7700.00000000</valUSD>
        <pctVal>0.005104443920</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Rowe T Price New Horizons Fund Inc</name>
        <lei>E0J2ATABWUU4WO6I2K88</lei>
        <title>T. Rowe Price New Horizons Fund </title>
        <cusip>779562107</cusip>
        <identifiers>
          <isin value="US7795621074"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8661.00000000</valUSD>
        <pctVal>0.005741505038</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Invesco Exchange Traded Fund Trust II</name>
        <lei>O540V2L4S174Y60FMD36</lei>
        <title>Invesco S&amp;P 500 High Beta ETF </title>
        <cusip>46138E370</cusip>
        <identifiers>
          <isin value="US46138E3707"/>
        </identifiers>
        <balance>188040.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13715637.60000000</valUSD>
        <pctVal>9.092299086432</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>CHARTWELL FUNDS</name>
        <lei>N/A</lei>
        <title>Chartwell Small Cap Value Fund </title>
        <cusip>16140T509</cusip>
        <identifiers>
          <isin value="US16140T5092"/>
        </identifiers>
        <balance>118.32000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2533.30000000</valUSD>
        <pctVal>0.001679362049</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Hennessy Mutual Fd</name>
        <lei>N/A</lei>
        <title>Hennessey Cornerstone Mid Cap 30 Fund </title>
        <cusip>425888609</cusip>
        <identifiers>
          <isin value="US4258886096"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2069.00000000</valUSD>
        <pctVal>0.001371570710</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>JP Morgan Trust I</name>
        <lei>549300DM5WZMCZZ70R78</lei>
        <title>JPMorgan US Research Enhanced Equity Fund </title>
        <cusip>4812A1860</cusip>
        <identifiers>
          <isin value="US4812A18607"/>
        </identifiers>
        <balance>99.79000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3581.79000000</valUSD>
        <pctVal>0.002374421583</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Columbia Acorn Tr</name>
        <lei>N/A</lei>
        <title>Columbia Acorn Fund </title>
        <cusip>197199409</cusip>
        <identifiers>
          <isin value="US1971994090"/>
        </identifiers>
        <balance>136.65000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2391.50000000</valUSD>
        <pctVal>0.001585360731</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Virtus Investment Trust</name>
        <lei>549300JFX7YJRKFQYL29</lei>
        <title>AllianzGI NFJ Small-Cap Value Fund </title>
        <cusip>92837Q603</cusip>
        <identifiers>
          <isin value="US92837Q6035"/>
        </identifiers>
        <balance>161.92000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3073.28000000</valUSD>
        <pctVal>0.002037322780</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Aim Sector Funds (Invesco Sector Funds)</name>
        <lei>C791731MUP758KD8DB31</lei>
        <title>Invesco American Value Fund </title>
        <cusip>00143M794</cusip>
        <identifiers>
          <isin value="US00143M7948"/>
        </identifiers>
        <balance>141.32000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5983.62000000</valUSD>
        <pctVal>0.003966630225</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Eaton Vance Mutual Funds Trust</name>
        <lei>549300C67AFHZKODE756</lei>
        <title>Parametric Commodity Strategy Fund</title>
        <cusip>277923223</cusip>
        <identifiers>
          <isin value="US2779232238"/>
        </identifiers>
        <balance>517216.67000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3336047.53000000</valUSD>
        <pctVal>2.211515264103</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>AMG Funds</name>
        <lei>N/A</lei>
        <title>AMG Yacktman Fund </title>
        <cusip>00170K588</cusip>
        <identifiers>
          <isin value="US00170K5882"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2382.00000000</valUSD>
        <pctVal>0.001579063041</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Vanguard Horizon F</name>
        <lei>5493002789CX3L0CJP65</lei>
        <title>Vanguard Strategic Equity Fund </title>
        <cusip>922038104</cusip>
        <identifiers>
          <isin value="US9220381043"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4346.00000000</valUSD>
        <pctVal>0.002881027698</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>ISHARES TRUST</name>
        <lei>5493000860OXIC4B5K91</lei>
        <title>iShares Russell 1000 Value ETF </title>
        <cusip>464287598</cusip>
        <identifiers>
          <isin value="US4642875987"/>
        </identifiers>
        <balance>306760.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>48330038.00000000</valUSD>
        <pctVal>32.03869722794</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>JP Morgan Trust I</name>
        <lei>549300DM5WZMCZZ70R78</lei>
        <title>JPMorgan Small Cap Equity Fund </title>
        <cusip>4812A1373</cusip>
        <identifiers>
          <isin value="US4812A13731"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7785.00000000</valUSD>
        <pctVal>0.005160791678</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Invesco Exchange Traded Fund Trust II</name>
        <lei>549300J84F1VGX03MG06</lei>
        <title>Invesco Optimum Yield Diversified Commodity Stategy</title>
        <cusip>46090F100</cusip>
        <identifiers>
          <isin value="US46090F1003"/>
        </identifiers>
        <balance>528390.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9843905.70000000</valUSD>
        <pctVal>6.525670728062</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Longleaf Partners</name>
        <lei>N/A</lei>
        <title>Longleaf Partners Small-Cap Fund </title>
        <cusip>543069207</cusip>
        <identifiers>
          <isin value="US5430692070"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2692.00000000</valUSD>
        <pctVal>0.001784566627</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Tweedy Browne Fund Inc</name>
        <lei>N/A</lei>
        <title>Tweedy Browne Global Value Fund </title>
        <cusip>901165100</cusip>
        <identifiers>
          <isin value="US9011651000"/>
        </identifiers>
        <balance>150.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4545.00000000</valUSD>
        <pctVal>0.003012947742</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Lord Abbett Develo</name>
        <lei>N/A</lei>
        <title>Lord Abbett Developing Growth Fund, Inc. </title>
        <cusip>544006505</cusip>
        <identifiers>
          <isin value="US5440065051"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4143.00000000</valUSD>
        <pctVal>0.002746455995</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Victory Portfolios</name>
        <lei>549300V07N3HJP1EW330</lei>
        <title>Victory RS Small Cap Growth Fund </title>
        <cusip>92647Q405</cusip>
        <identifiers>
          <isin value="US92647Q4055"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10425.00000000</valUSD>
        <pctVal>0.006910886736</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Baron Select Funds</name>
        <lei>549300U6KWVIU0PW2H88</lei>
        <title>Baron Partners Fund </title>
        <cusip>06828M405</cusip>
        <identifiers>
          <isin value="US06828M4050"/>
        </identifiers>
        <balance>37209.02000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6509347.36000000</valUSD>
        <pctVal>4.315142670042</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fidelity Commwlth Tr</name>
        <lei>RRU0WCSIEQVV8NJYCG61</lei>
        <title>Fidelity Small Cap Stock Fund </title>
        <cusip>315912501</cusip>
        <identifiers>
          <isin value="US3159125018"/>
        </identifiers>
        <balance>150.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3535.52000000</valUSD>
        <pctVal>0.002343748515</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Fidelity Securities Fund</name>
        <lei>LIUMB3NDWOFJPXVROE85</lei>
        <title>Fidelity Small Cap Value Fund </title>
        <cusip>316389832</cusip>
        <identifiers>
          <isin value="US3163898329"/>
        </identifiers>
        <balance>150.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3297.00000000</valUSD>
        <pctVal>0.002185630078</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Delaware Gp Eq Fii</name>
        <lei>N/A</lei>
        <title>Delaware Value Fund </title>
        <cusip>24610C857</cusip>
        <identifiers>
          <isin value="US24610C8579"/>
        </identifiers>
        <balance>144.33000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3508.69000000</valUSD>
        <pctVal>0.002325962511</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Rowe T Price Small</name>
        <lei>DN033QOT4XRHBV08B590</lei>
        <title>T. Rowe Price Small-Cap Value Fund </title>
        <cusip>77957Q103</cusip>
        <identifiers>
          <isin value="US77957Q1031"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6147.00000000</valUSD>
        <pctVal>0.004074937244</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Bny Mellon Advantage Funds Inc</name>
        <lei>N/A</lei>
        <title>BNY Mellon Opportunistic Small Cap Fund </title>
        <cusip>05587N638</cusip>
        <identifiers>
          <isin value="US05587N6388"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3795.00000000</valUSD>
        <pctVal>0.002515761646</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Wasatch Funds Inc</name>
        <lei>N/A</lei>
        <title>Wasatch Emerging Markets Small Cap Fund </title>
        <cusip>936793884</cusip>
        <identifiers>
          <isin value="US9367938845"/>
        </identifiers>
        <balance>1000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3680.00000000</valUSD>
        <pctVal>0.002439526445</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Royce Funds</name>
        <lei>N/A</lei>
        <title>Royce Opportunity Fund </title>
        <cusip>780905832</cusip>
        <identifiers>
          <isin value="US7809058321"/>
        </identifiers>
        <balance>377958.33000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7593183.03000000</valUSD>
        <pctVal>5.033633370918</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Virtus Investment Trust</name>
        <lei>549300JFX7YJRKFQYL29</lei>
        <title>AllianzGI Dividend Value Fund </title>
        <cusip>92837N600</cusip>
        <identifiers>
          <isin value="US92837N6004"/>
        </identifiers>
        <balance>200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2524.00000000</valUSD>
        <pctVal>0.001673196942</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Deutsche Dws nvestment Trust</name>
        <lei>N/A</lei>
        <title>Deutsche Small Cap Core Fund </title>
        <cusip>25157M521</cusip>
        <identifiers>
          <isin value="US25157M5215"/>
        </identifiers>
        <balance>52.09000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2288.36000000</valUSD>
        <pctVal>0.001516987700</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Financial Investors Trust</name>
        <lei>549300XD6LCPI5YWPZ35</lei>
        <title>ALPS/CoreCommodity Management CompleteCommoities Stragey Fund</title>
        <cusip>317609667</cusip>
        <identifiers>
          <isin value="US3176096671"/>
        </identifiers>
        <balance>387624.70000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3271552.47000000</valUSD>
        <pctVal>2.168760534632</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Franklin V Inv Tr</name>
        <lei>N/A</lei>
        <title>Franklin Small Cap Value Fund </title>
        <cusip>355148503</cusip>
        <identifiers>
          <isin value="US3551485036"/>
        </identifiers>
        <balance>100.40000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6638.51000000</valUSD>
        <pctVal>0.004400766495</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Longleaf Partners</name>
        <lei>N/A</lei>
        <title>Longleaf Partners Fund </title>
        <cusip>543069108</cusip>
        <identifiers>
          <isin value="US5430691080"/>
        </identifiers>
        <balance>150.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3903.00000000</valUSD>
        <pctVal>0.002587356444</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Touchstone Fds Gro</name>
        <lei>5493006SE4K8V7N8TJ90</lei>
        <title>Touchstone Sands Capital Select Growth Fund </title>
        <cusip>89155H827</cusip>
        <identifiers>
          <isin value="US89155H8271"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2120.00000000</valUSD>
        <pctVal>0.001405379365</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Wasatch Advisors F</name>
        <lei>N/A</lei>
        <title>Wasatch Micro Cap Fund </title>
        <cusip>936772508</cusip>
        <identifiers>
          <isin value="US9367725085"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1355.00000000</valUSD>
        <pctVal>0.000898249547</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Fidelity Colcheste</name>
        <lei>549300SHPEJB1OPRCV46</lei>
        <title>Fidelity Investments Money Market Funds  - Government Portfolio</title>
        <cusip>31607A703</cusip>
        <identifiers>
          <isin value="US31607A7037"/>
        </identifiers>
        <balance>608686.97000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>608686.97000000</valUSD>
        <pctVal>0.403507597871</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>Fundvantage Tr</name>
        <lei>549300C6U7XKIL1IY249</lei>
        <title>Polen Growth Fund </title>
        <cusip>360873657</cusip>
        <identifiers>
          <isin value="US3608736571"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5014.00000000</valUSD>
        <pctVal>0.003323854781</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Invesco Exchange Traded Fd Tr</name>
        <lei>QPT4TMG79RF3UWNU0R52</lei>
        <title>Invesco S&amp;P SmallCap 600 Pure Value ETF </title>
        <cusip>46137V167</cusip>
        <identifiers>
          <isin value="US46137V1677"/>
        </identifiers>
        <balance>95640.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8492832.00000000</valUSD>
        <pctVal>5.630023983341</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Janus Investment Fund</name>
        <lei>W6UYDZFUOFJ4HQQ32382</lei>
        <title>Janus Henderson Venture Fund </title>
        <cusip>471023507</cusip>
        <identifiers>
          <isin value="US4710235072"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10639.00000000</valUSD>
        <pctVal>0.007052750502</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Bridgeway Fds Inc</name>
        <lei>N/A</lei>
        <title>Bridgeway Small-Cap Growth Fund </title>
        <cusip>108747841</cusip>
        <identifiers>
          <isin value="US1087478418"/>
        </identifiers>
        <balance>205.33000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7158.12000000</valUSD>
        <pctVal>0.004745223651</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Voyageur Mut Fds 3</name>
        <lei>N/A</lei>
        <title>Delaware Select Growth Fund </title>
        <cusip>928931757</cusip>
        <identifiers>
          <isin value="US9289317573"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4539.00000000</valUSD>
        <pctVal>0.003008970254</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Bridgeway Fds Inc</name>
        <lei>N/A</lei>
        <title>Bridgeway Ultra-Small Company Market Fund </title>
        <cusip>108747403</cusip>
        <identifiers>
          <isin value="US1087474037"/>
        </identifiers>
        <balance>473295.33000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8599776.31000000</valUSD>
        <pctVal>5.700918948670</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>American Century Cap Portfolios Inc</name>
        <lei>N/A</lei>
        <title>American Century Equity Income Fund </title>
        <cusip>025076100</cusip>
        <identifiers>
          <isin value="US0250761006"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>974.00000000</valUSD>
        <pctVal>0.000645679010</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Tiaa Cref Institut</name>
        <lei>N/A</lei>
        <title>TIAA-CREF International Equity Fund </title>
        <cusip>87244W102</cusip>
        <identifiers>
          <isin value="US87244W1027"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1386.00000000</valUSD>
        <pctVal>0.000918799905</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Dfa Invt Dimensions Group Inc</name>
        <lei>N/A</lei>
        <title>DFA U.S. Small Cap Value Portfolio </title>
        <cusip>233203819</cusip>
        <identifiers>
          <isin value="US2332038197"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4446.00000000</valUSD>
        <pctVal>0.002947319178</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Fidelity Commwlth Tr</name>
        <lei>RRU0WCSIEQVV8NJYCG61</lei>
        <title>Fidelity Small Cap Discovery Fund </title>
        <cusip>315912600</cusip>
        <identifiers>
          <isin value="US3159126008"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2955.00000000</valUSD>
        <pctVal>0.001958913218</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Longleaf Partners</name>
        <lei>N/A</lei>
        <title>Longleaf Partners International Fund </title>
        <cusip>543069405</cusip>
        <identifiers>
          <isin value="US5430694050"/>
        </identifiers>
        <balance>150.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2818.50000000</valUSD>
        <pctVal>0.001868425349</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Dfa Invt Dimensions Group Inc</name>
        <lei>N/A</lei>
        <title>DFA International Small Company Portfolio </title>
        <cusip>233203629</cusip>
        <identifiers>
          <isin value="US2332036290"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2237.00000000</valUSD>
        <pctVal>0.001482940396</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Columbia Acorn Tr</name>
        <lei>N/A</lei>
        <title>Columbia Acorn International </title>
        <cusip>197199813</cusip>
        <identifiers>
          <isin value="US1971998133"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3667.00000000</valUSD>
        <pctVal>0.002430908552</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Principal Funds Inc</name>
        <lei>549300HZGBXSW6DSXF23</lei>
        <title>Principal SmallCap Growth Fund I </title>
        <cusip>74253J461</cusip>
        <identifiers>
          <isin value="US74253J4610"/>
        </identifiers>
        <balance>200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3946.00000000</valUSD>
        <pctVal>0.002615861780</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Profesionally Managed Portfolios</name>
        <lei>N/A</lei>
        <title>Akre Focus Fund </title>
        <cusip>742935125</cusip>
        <identifiers>
          <isin value="US7429351254"/>
        </identifiers>
        <balance>101.45000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6211.01000000</valUSD>
        <pctVal>0.004117370420</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Primecap Odyssey F</name>
        <lei>5493004GQ7ACYH108358</lei>
        <title>PRIMECAP Odyssey Aggressive Growth Fund </title>
        <cusip>74160Q202</cusip>
        <identifiers>
          <isin value="US74160Q2021"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5814.00000000</valUSD>
        <pctVal>0.003854186617</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Morgan Stanley Institutional Fund Trust</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley Instituional Fund Trust Discovery Growth Portfolio</title>
        <cusip>617440508</cusip>
        <identifiers>
          <isin value="US6174405083"/>
        </identifiers>
        <balance>87008.81000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3784883.41000000</valUSD>
        <pctVal>2.509055209434</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Janus Investment Fund</name>
        <lei>W6UYDZFUOFJ4HQQ32382</lei>
        <title>Janus Henderson Contrarian Fund </title>
        <cusip>471023655</cusip>
        <identifiers>
          <isin value="US4710236559"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3051.00000000</valUSD>
        <pctVal>0.002022553039</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Fleming Cap Mut Fd</name>
        <lei>N/A</lei>
        <title>JPMorgan Mid Cap Value Fund </title>
        <cusip>339128100</cusip>
        <identifiers>
          <isin value="US3391281009"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4521.00000000</valUSD>
        <pctVal>0.002997037787</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Columbia Funds Series Trust I</name>
        <lei>549300W5GIE6ZOZOTD82</lei>
        <title>Columbia Contrarian Core Fund </title>
        <cusip>19765P406</cusip>
        <identifiers>
          <isin value="US19765P4063"/>
        </identifiers>
        <balance>91.27000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3140.91000000</valUSD>
        <pctVal>0.002082155708</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Prudential World Fund Inc</name>
        <lei>N/A</lei>
        <title>Prudential Jennison International Opportunities  Fund</title>
        <cusip>743969651</cusip>
        <identifiers>
          <isin value="US7439696516"/>
        </identifiers>
        <balance>185.28000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6444.04000000</valUSD>
        <pctVal>0.004271849454</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Royce Funds</name>
        <lei>N/A</lei>
        <title>Royce Micro-Cap Fund </title>
        <cusip>780905709</cusip>
        <identifiers>
          <isin value="US7809057091"/>
        </identifiers>
        <balance>105.67000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1634.78000000</valUSD>
        <pctVal>0.001083719848</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Artisan Partners Funds Inc.</name>
        <lei>H441S2FJOUSVWTYA1B25</lei>
        <title>Artisan International Value Fund </title>
        <cusip>04314H881</cusip>
        <identifiers>
          <isin value="US04314H8815"/>
        </identifiers>
        <balance>150.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6661.50000000</valUSD>
        <pctVal>0.004416006906</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Fidelity Devonshir</name>
        <lei>549300478VTUOFTSUU57</lei>
        <title>Fidelity Mid-Cap Stock Fund </title>
        <cusip>316128404</cusip>
        <identifiers>
          <isin value="US3161284043"/>
        </identifiers>
        <balance>150.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6678.00000000</valUSD>
        <pctVal>0.004426945000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Buffalo Small Cap</name>
        <lei>N/A</lei>
        <title>Buffalo Small Cap Fund, Inc. </title>
        <cusip>119804102</cusip>
        <identifiers>
          <isin value="US1198041022"/>
        </identifiers>
        <balance>150.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3514.50000000</valUSD>
        <pctVal>0.002329814046</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Rowe T Price Mid Cap Growth Fd</name>
        <lei>80RXPO345YBHPM0J9835</lei>
        <title>T. Rowe Price Mid-Cap Growth Fund </title>
        <cusip>779556109</cusip>
        <identifiers>
          <isin value="US7795561098"/>
        </identifiers>
        <balance>50.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6083.50000000</valUSD>
        <pctVal>0.004032842154</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Janus Investment Fund</name>
        <lei>W6UYDZFUOFJ4HQQ32382</lei>
        <title>Janus Henderson Mid Cap Value Fund </title>
        <cusip>471023598</cusip>
        <identifiers>
          <isin value="US4710235981"/>
        </identifiers>
        <balance>200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3622.00000000</valUSD>
        <pctVal>0.002401077387</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Hennessy Funds Trust</name>
        <lei>549300L20PWOT5TV6228</lei>
        <title>Hennessy Focus Fund </title>
        <cusip>42588P700</cusip>
        <identifiers>
          <isin value="US42588P7006"/>
        </identifiers>
        <balance>50.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3664.00000000</valUSD>
        <pctVal>0.002428919808</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Bridgeway Fds Inc</name>
        <lei>N/A</lei>
        <title>Bridgeway Small-Cap Value Fund </title>
        <cusip>108747825</cusip>
        <identifiers>
          <isin value="US1087478251"/>
        </identifiers>
        <balance>90996.46000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3079320.48000000</valUSD>
        <pctVal>2.041327104409</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Harris Associated</name>
        <lei>54930037R1JTV3ZYFY28</lei>
        <title>Oakmark International Small Cap Fund </title>
        <cusip>413838509</cusip>
        <identifiers>
          <isin value="US4138385095"/>
        </identifiers>
        <balance>150.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2988.00000000</valUSD>
        <pctVal>0.001980789407</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>JP Morgan Trust Ii</name>
        <lei>549300IMXLYKELY96B40</lei>
        <title>JPMorgan Small Cap Growth Fund </title>
        <cusip>4812C0290</cusip>
        <identifiers>
          <isin value="US4812C02904"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3120.00000000</valUSD>
        <pctVal>0.002068294160</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Rowe T Price International Funds Inc</name>
        <lei>549300O4BT3AMY6OUC26</lei>
        <title>T. Rowe Price International Discovery Fund </title>
        <cusip>77956H302</cusip>
        <identifiers>
          <isin value="US77956H3021"/>
        </identifiers>
        <balance>75.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7365.00000000</valUSD>
        <pctVal>0.004882367464</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Advisors Inner Circle Fd II</name>
        <lei>549300OEHDTB2ALCAX69</lei>
        <title>Champlain Small Company Fund </title>
        <cusip>00766Y190</cusip>
        <identifiers>
          <isin value="US00766Y1901"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2551.00000000</valUSD>
        <pctVal>0.001691095641</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Nicholas Fund Inc</name>
        <lei>N/A</lei>
        <title>Nicholas Fund, Inc. </title>
        <cusip>653735100</cusip>
        <identifiers>
          <isin value="US6537351008"/>
        </identifiers>
        <balance>50.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4231.00000000</valUSD>
        <pctVal>0.002804792497</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Royce Funds</name>
        <lei>N/A</lei>
        <title>Royce Premier Fund </title>
        <cusip>780905600</cusip>
        <identifiers>
          <isin value="US7809056002"/>
        </identifiers>
        <balance>300.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4593.00000000</valUSD>
        <pctVal>0.003044767652</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>ISHARES TRUST</name>
        <lei>5493000860OXIC4B5K91</lei>
        <title>iShares Russell 2000 Value ETF </title>
        <cusip>464287630</cusip>
        <identifiers>
          <isin value="US4642876308"/>
        </identifiers>
        <balance>199870.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>32454890.60000000</valUSD>
        <pctVal>21.51482714537</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Morgan Stanley Institutional Funding Inc</name>
        <lei>N/A</lei>
        <title>MSIF Inception Portfolio </title>
        <cusip>61744J309</cusip>
        <identifiers>
          <isin value="US61744J3095"/>
        </identifiers>
        <balance>30021.01000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1000000.01000000</valUSD>
        <pctVal>0.662914801522</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Harris Associated</name>
        <lei>54930037R1JTV3ZYFY28</lei>
        <title>Oakmark Select Fund </title>
        <cusip>413838608</cusip>
        <identifiers>
          <isin value="US4138386085"/>
        </identifiers>
        <balance>150.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8907.00000000</valUSD>
        <pctVal>0.005904582078</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Janus Investment Fund</name>
        <lei>W6UYDZFUOFJ4HQQ32382</lei>
        <title>Janus Henderson Overseas Fund </title>
        <cusip>471023846</cusip>
        <identifiers>
          <isin value="US4710238464"/>
        </identifiers>
        <balance>99.99000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4298.96000000</valUSD>
        <pctVal>0.002849844186</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Delaware Group Val</name>
        <lei>N/A</lei>
        <title>Delaware Small Cap Value Fund </title>
        <cusip>246097208</cusip>
        <identifiers>
          <isin value="US2460972084"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7939.00000000</valUSD>
        <pctVal>0.005262880556</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Davis Series</name>
        <lei>254900Q6I0WAL4QT7252</lei>
        <title>Davis Opportunity Fund </title>
        <cusip>239103831</cusip>
        <identifiers>
          <isin value="US2391038310"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4824.00000000</valUSD>
        <pctVal>0.003197900970</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Fairholme Fds Inc</name>
        <lei>N/A</lei>
        <title>Fairholme Fund </title>
        <cusip>304871106</cusip>
        <identifiers>
          <isin value="US3048711069"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2975.00000000</valUSD>
        <pctVal>0.001972171514</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>AMG Funds</name>
        <lei>N/A</lei>
        <title>AMG Yacktman Focused Fund </title>
        <cusip>00170K562</cusip>
        <identifiers>
          <isin value="US00170K5627"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2102.00000000</valUSD>
        <pctVal>0.001393446898</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Harris Associated</name>
        <lei>54930037R1JTV3ZYFY28</lei>
        <title>Oakmark International Fund </title>
        <cusip>413838202</cusip>
        <identifiers>
          <isin value="US4138382027"/>
        </identifiers>
        <balance>150.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4380.00000000</valUSD>
        <pctVal>0.002903566801</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>ADVISERS INVESTMENT TRUST</name>
        <lei>N/A</lei>
        <title>JOHCM International Select Fund </title>
        <cusip>00770G847</cusip>
        <identifiers>
          <isin value="US00770G8472"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3126.00000000</valUSD>
        <pctVal>0.002072271648</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>American Centy World Mut Fds Inc</name>
        <lei>N/A</lei>
        <title>American Century International Opportunities Fund </title>
        <cusip>025086737</cusip>
        <identifiers>
          <isin value="US0250867373"/>
        </identifiers>
        <balance>360.07000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5134.61000000</valUSD>
        <pctVal>0.003403808935</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Thornburg Investment Trust</name>
        <lei>5493001XM52H8S4WYY82</lei>
        <title>Thornburg Value Fund </title>
        <cusip>885215632</cusip>
        <identifiers>
          <isin value="US8852156327"/>
        </identifiers>
        <balance>100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10107.00000000</valUSD>
        <pctVal>0.006700079831</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>Hartford Mutual Funds Inc</name>
        <lei>N/A</lei>
        <title>Hartford International Opportunities Fund/The </title>
        <cusip>416645885</cusip>
        <identifiers>
          <isin value="US4166458855"/>
        </identifiers>
        <balance>247.51000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5400.78000000</valUSD>
        <pctVal>0.003580256965</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Morgan Stanley Institutional Funding Inc</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Institutional Fund, Inc. - Growth Portfolio</title>
        <cusip>61744J861</cusip>
        <identifiers>
          <isin value="US61744J8615"/>
        </identifiers>
        <balance>99.99000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9469.91000000</valUSD>
        <pctVal>0.006277743445</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</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>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2021-05-24</ncom:dateSigned>
      <ncom:nameOfApplicant>Valued Advisers Trust</ncom:nameOfApplicant>
      <ncom:signature>Gregory Knoth</ncom:signature>
      <ncom:signerName>Gregory Knoth</ncom:signerName>
      <ncom:title>SVP, Mutual Fund Controller</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
