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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Alphabet, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>United Therapeutics Corp.</name>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Expeditors International of Washington, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Walmart, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>CME Group, Inc.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Ingredion, Inc.</name>
        <lei>PKSTQ48QDN0XSVS7YK88</lei>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Waste Management, Inc.</name>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Landstar System, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Chubb Ltd.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Permian Resources Corp.</name>
        <lei>529900NXUJPOKU7OJ511</lei>
        <title>Permian Resources Corp., Class A</title>
        <cusip>71424F105</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>NVIDIA Corp.</name>
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        <title>NVIDIA Corp.</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Ubiquiti, Inc.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Northrop Grumman Corp.</name>
        <lei>RIMU48P07456QXSO0R61</lei>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Eli Lilly &amp; Co.</name>
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        <name>Danaher Corp.</name>
        <lei>S4BKK9OTCEWQ3YHPFM11</lei>
        <title>Danaher Corp.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Stryker Corp.</name>
        <lei>5493002F0SC4JTBU5137</lei>
        <title>Stryker Corp.</title>
        <cusip>863667101</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Deckers Outdoor Corp.</name>
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        <title>Deckers Outdoor Corp.</title>
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        <name>Medpace Holdings, Inc.</name>
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        <name>Neurocrine Biosciences, Inc.</name>
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        <name>Cummins, Inc.</name>
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        <name>Boston Scientific Corp.</name>
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        <name>International Business Machines Corp.</name>
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        <title>International Business Machines Corp.</title>
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        <name>Republic Services, Inc.</name>
        <lei>NKNQHM6BLECKVOQP7O46</lei>
        <title>Republic Services, Inc., Class A</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <name>Everest Group Ltd.</name>
        <lei>549300N24XF2VV0B3570</lei>
        <title>Everest Group Ltd.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>BM</invCountry>

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        <name>Apple, Inc.</name>
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        <name>Automatic Data Processing, Inc.</name>
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      <invstOrSec>
        <name>Expand Energy Corp.</name>
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        <name>DoorDash, Inc.</name>
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        <name>Fiserv, Inc.</name>
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        <name>Texas Pacific Land Corp.</name>
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        <name>Fox Corp.</name>
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        <name>Jack Henry &amp; Associates, Inc.</name>
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        <name>Fair Isaac Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Spotify Technology SA</name>
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        <name>Kroger Co. (The)</name>
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        <name>MGIC Investment Corp.</name>
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        <name>Johnson &amp; Johnson</name>
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        <name>Merck &amp; Co., Inc.</name>
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        <name>Mastercard, Inc.</name>
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        <name>AT&amp;T, Inc.</name>
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        <name>Hormel Foods Corp.</name>
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        <name>Atmos Energy Corp.</name>
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        <name>N/A</name>
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        <name>Becton Dickinson &amp; Co.</name>
        <lei>ICE2EP6D98PQUILVRZ91</lei>
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        <name>Arista Networks, Inc.</name>
        <lei>635400H1WKBLOQERUU95</lei>
        <title>Arista Networks, Inc.</title>
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        <name>Grand Canyon Education, Inc.</name>
        <lei>529900XFER799IYOSW74</lei>
        <title>Grand Canyon Education, Inc.</title>
        <cusip>38526M106</cusip>
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        <name>Assurant, Inc.</name>
        <lei>H3F39CAXWQRVWURFXL38</lei>
        <title>Assurant, Inc.</title>
        <cusip>04621X108</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Progressive Corp. (The)</name>
        <lei>529900TACNVLY9DCR586</lei>
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      <invstOrSec>
        <name>General Mills, Inc.</name>
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      <invstOrSec>
        <name>Exelixis, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>WW Grainger, Inc.</name>
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        <name>Travelers Cos., Inc. (The)</name>
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      <invstOrSec>
        <name>Church &amp; Dwight Co., Inc.</name>
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      <invstOrSec>
        <name>Chipotle Mexican Grill, Inc.</name>
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        <name>Adobe, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Pilgrim's Pride Corp.</name>
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        <name>Veeva Systems, Inc.</name>
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        <name>ROBLOX Corp.</name>
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        <name>General Dynamics Corp.</name>
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        <name>Consolidated Edison, Inc.</name>
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        <name>CNA Financial Corp.</name>
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        <name>Airbnb, Inc.</name>
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        <name>TD SYNNEX Corp.</name>
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        <name>White Mountains Insurance Group Ltd.</name>
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        <name>AutoZone, Inc.</name>
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        <name>Rollins, Inc.</name>
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        <name>McKesson Corp.</name>
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        <title>McKesson Corp.</title>
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        <name>Datadog, Inc.</name>
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        <name>Roper Technologies, Inc.</name>
        <lei>54930003T4SXCIWVXY35</lei>
        <title>Roper Technologies, Inc.</title>
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        <name>Amdocs Ltd.</name>
        <lei>549300HQV672RJ7RQV66</lei>
        <title>Amdocs Ltd.</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Abbott Laboratories</name>
        <lei>HQD377W2YR662HK5JX27</lei>
        <title>Abbott Laboratories</title>
        <cusip>002824100</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Meta Platforms, Inc.</name>
        <lei>BQ4BKCS1HXDV9HN80Z93</lei>
        <title>Meta Platforms, Inc., Class A</title>
        <cusip>30303M102</cusip>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Costco Wholesale Corp.</name>
        <lei>29DX7H14B9S6O3FD6V18</lei>
        <title>Costco Wholesale Corp.</title>
        <cusip>22160K105</cusip>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HubSpot, Inc.</name>
        <lei>529900BLNVEW0MVKJB37</lei>
        <title>HubSpot, Inc.</title>
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          <isin value="US4435731009"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Philip Morris International, Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>Philip Morris International, Inc.</title>
        <cusip>718172109</cusip>
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          <isin value="US7181721090"/>
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        <balance>80444.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chemed Corp.</name>
        <lei>54930020031IDJT2IM79</lei>
        <title>Chemed Corp.</title>
        <cusip>16359R103</cusip>
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          <isin value="US16359R1032"/>
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        <balance>5692.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Markel Group, Inc.</name>
        <lei>549300SCNO12JLWIK605</lei>
        <title>Markel Group, Inc.</title>
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          <isin value="US5705351048"/>
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        <balance>1998.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Palantir Technologies, Inc.</name>
        <lei>549300UVN46B3BBDHO85</lei>
        <title>Palantir Technologies, Inc., Class A</title>
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          <isin value="US69608A1088"/>
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        <balance>12479.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Arch Capital Group Ltd.</name>
        <lei>549300AYR4P8AFKDCE43</lei>
        <title>Arch Capital Group Ltd.</title>
        <cusip>N/A</cusip>
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          <isin value="BMG0450A1053"/>
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        <balance>68931.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Fortinet, Inc.</name>
        <lei>549300O0QJWDBAS0QX03</lei>
        <title>Fortinet, Inc.</title>
        <cusip>34959E109</cusip>
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          <isin value="US34959E1091"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Xcel Energy, Inc.</name>
        <lei>LGJNMI9GH8XIDG5RCM61</lei>
        <title>Xcel Energy, Inc.</title>
        <cusip>98389B100</cusip>
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          <isin value="US98389B1008"/>
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        <balance>13128.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Motorola Solutions, Inc.</name>
        <lei>6S552MUG6KGJVEBSEC55</lei>
        <title>Motorola Solutions, Inc.</title>
        <cusip>620076307</cusip>
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          <isin value="US6200763075"/>
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        <balance>5052.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Cardinal Health, Inc.</name>
        <lei>CCU46N3GJMF4OK4N7U60</lei>
        <title>Cardinal Health, Inc.</title>
        <cusip>14149Y108</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Netflix, Inc.</name>
        <lei>549300Y7VHGU0I7CE873</lei>
        <title>Netflix, Inc.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Arthur J Gallagher &amp; Co.</name>
        <lei>54930049QLLMPART6V29</lei>
        <title>Arthur J Gallagher &amp; Co.</title>
        <cusip>363576109</cusip>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>W R Berkley Corp.</name>
        <lei>SQOAGCLKBDWNVYV1OV80</lei>
        <title>W R Berkley Corp.</title>
        <cusip>084423102</cusip>
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          <isin value="US0844231029"/>
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        <balance>84350.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Cisco Systems, Inc.</name>
        <lei>549300LKFJ962MZ46593</lei>
        <title>Cisco Systems, Inc.</title>
        <cusip>17275R102</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>PepsiCo, Inc.</name>
        <lei>FJSUNZKFNQ5YPJ5OT455</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>Casey's General Stores, Inc.</name>
        <lei>549300CAFWSI86V66Q65</lei>
        <title>Casey's General Stores, Inc.</title>
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        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
        <cusip>46625H100</cusip>
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        <name>T-Mobile US, Inc.</name>
        <lei>549300QHIJYOHPACPG31</lei>
        <title>T-Mobile US, Inc.</title>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Vertex Pharmaceuticals, Inc.</name>
        <lei>54930015RAQRRZ5ZGJ91</lei>
        <title>Vertex Pharmaceuticals, Inc.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Analog Devices, Inc.</name>
        <lei>GYVOE5EZ4GDAVTU4CQ61</lei>
        <title>Analog Devices, Inc.</title>
        <cusip>032654105</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Colgate-Palmolive Co.</name>
        <lei>YMEGZFW4SBUSS5BQXF88</lei>
        <title>Colgate-Palmolive Co.</title>
        <cusip>194162103</cusip>
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        <balance>247295.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>22479115.50000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Cboe Global Markets, Inc.</name>
        <lei>529900RLNSGA90UPEH54</lei>
        <title>Cboe Global Markets, Inc.</title>
        <cusip>12503M108</cusip>
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        <balance>140904.00000000</balance>
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      <invstOrSec>
        <name>Manhattan Associates, Inc.</name>
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      <invstOrSec>
        <name>Dillard's, Inc.</name>
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      <invstOrSec>
        <name>Chevron Corp.</name>
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        <name>Cigna Group (The)</name>
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      <invstOrSec>
        <name>F5, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Atlassian Corp.</name>
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        <name>Limited Purpose Cash Investment Fund</name>
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        <name>ConocoPhillips</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>First Citizens BancShares, Inc.</name>
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        <name>Tyson Foods, Inc.</name>
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        <name>Akamai Technologies, Inc.</name>
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        <name>GRAIL, Inc.</name>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Edwards Lifesciences Corp.</name>
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        <title>Edwards Lifesciences Corp.</title>
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        <name>Verisk Analytics, Inc.</name>
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        <name>Teledyne Technologies, Inc.</name>
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        <name>Coca-Cola Co. (The)</name>
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        <name>Marsh &amp; McLennan Cos., Inc.</name>
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        <name>Coterra Energy, Inc.</name>
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        <name>West Pharmaceutical Services, Inc.</name>
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        <name>ServiceNow, Inc.</name>
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        <name>Millrose Properties, Inc.</name>
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        <name>Procter &amp; Gamble Co. (The)</name>
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        <title>Procter &amp; Gamble Co. (The)</title>
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        <name>LPL Financial Holdings, Inc.</name>
        <lei>549300XROQ4Y8G2L7682</lei>
        <title>LPL Financial Holdings, Inc.</title>
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        <name>Verizon Communications, Inc.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>Verizon Communications, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Walt Disney Co. (The)</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Paychex, Inc.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Microsoft Corp.</name>
        <lei>INR2EJN1ERAN0W5ZP974</lei>
        <title>Microsoft Corp.</title>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Molson Coors Beverage Co.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Nutanix, Inc.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Kimberly-Clark Corp.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Murphy USA, Inc.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bank of New York Mellon Corp. (The)</name>
        <lei>WFLLPEPC7FZXENRZV188</lei>
        <title>Bank of New York Mellon Corp. (The)</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RTX Corp.</name>
        <lei>I07WOS4YJ0N7YRFE7309</lei>
        <title>RTX Corp.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Old Dominion Freight Line, Inc.</name>
        <lei>5299009TWK32WE417T96</lei>
        <title>Old Dominion Freight Line, Inc.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Unum Group</name>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Elevance Health, Inc.</name>
        <lei>8MYN82XMYQH89CTMTH67</lei>
        <title>Elevance Health, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Mondelez International, Inc.</name>
        <lei>549300DV9GIB88LZ5P30</lei>
        <title>Mondelez International, Inc., Class A</title>
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        <fairValLevel>1</fairValLevel>
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        <name>AbbVie, Inc.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
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      <invstOrSec>
        <name>Union Pacific Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Reinsurance Group of America, Inc.</name>
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        <assetCat>EC</assetCat>
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        <name>Marathon Petroleum Corp.</name>
        <lei>3BNYRYQHD39K4LCKQF12</lei>
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        <name>U-Haul Holding Co.</name>
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        <name>Booking Holdings, Inc.</name>
        <lei>FXM8FAOHMYDIPD38UZ17</lei>
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        <name>Hershey Co. (The)</name>
        <lei>21X2CX66SU2BR6QTAD08</lei>
        <title>Hershey Co. (The)</title>
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        <name>Tyler Technologies, Inc.</name>
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        <name>EOG Resources, Inc.</name>
        <lei>XWTZDRYZPBUHIQBKDB46</lei>
        <title>EOG Resources, Inc.</title>
        <cusip>26875P101</cusip>
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        <name>Duke Energy Corp.</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>Duke Energy Corp.</title>
        <cusip>26441C204</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <name>Zoom Communications, Inc.</name>
        <lei>549300T9GCHU0ODOM055</lei>
        <title>Zoom Communications, Inc., Class A</title>
        <cusip>98980L101</cusip>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UnitedHealth Group, Inc.</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UnitedHealth Group, Inc.</title>
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          <isin value="US91324P1021"/>
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        <balance>55978.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>17463456.66000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Thermo Fisher Scientific, Inc.</name>
        <lei>HCHV7422L5HDJZCRFL38</lei>
        <title>Thermo Fisher Scientific, Inc.</title>
        <cusip>883556102</cusip>
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          <isin value="US8835561023"/>
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        <balance>4486.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CACI International, Inc.</name>
        <lei>SYRPI2D1O9WRTS2WX210</lei>
        <title>CACI International, Inc., Class A</title>
        <cusip>127190304</cusip>
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          <isin value="US1271903049"/>
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        <balance>37286.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FedEx Corp.</name>
        <lei>549300E707U7WNPZN687</lei>
        <title>FedEx Corp.</title>
        <cusip>31428X106</cusip>
        <identifiers>
          <isin value="US31428X1063"/>
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        <balance>3007.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Synopsys, Inc.</name>
        <lei>QG7T915N9S0NY5UKNE63</lei>
        <title>Synopsys, Inc.</title>
        <cusip>871607107</cusip>
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          <isin value="US8716071076"/>
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        <balance>11470.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>O'Reilly Automotive, Inc.</name>
        <lei>549300K2RLMQL149Q332</lei>
        <title>O'Reilly Automotive, Inc.</title>
        <cusip>67103H107</cusip>
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          <isin value="US67103H1077"/>
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        <balance>332805.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Visa, Inc.</name>
        <lei>549300JZ4OKEHW3DPJ59</lei>
        <title>Visa, Inc., Class A</title>
        <cusip>92826C839</cusip>
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          <isin value="US92826C8394"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Illinois Tool Works, Inc.</name>
        <lei>76NA4I14SZCFAYMNSV04</lei>
        <title>Illinois Tool Works, Inc.</title>
        <cusip>452308109</cusip>
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          <isin value="US4523081093"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>McDonald's Corp.</name>
        <lei>UE2136O97NLB5BYP9H04</lei>
        <title>McDonald's Corp.</title>
        <cusip>580135101</cusip>
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          <isin value="US5801351017"/>
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        <balance>15197.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GE Aerospace</name>
        <lei>3C7474T6CDKPR9K6YT90</lei>
        <title>GE Aerospace</title>
        <cusip>369604301</cusip>
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          <isin value="US3696043013"/>
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        <balance>66406.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>17092240.34000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Kinder Morgan, Inc.</name>
        <lei>549300WR7IX8XE0TBO16</lei>
        <title>Kinder Morgan, Inc.</title>
        <cusip>49456B101</cusip>
        <identifiers>
          <isin value="US49456B1017"/>
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        <balance>72842.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2141554.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Texas Roadhouse, Inc.</name>
        <lei>5299002Y1CNRPDGXTQ75</lei>
        <title>Texas Roadhouse, Inc., Class A</title>
        <cusip>882681109</cusip>
        <identifiers>
          <isin value="US8826811098"/>
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        <balance>29387.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Leidos Holdings, Inc.</name>
        <lei>549300IUTGTP6EJP8124</lei>
        <title>Leidos Holdings, Inc.</title>
        <cusip>525327102</cusip>
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          <isin value="US5253271028"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DT Midstream, Inc.</name>
        <lei>N/A</lei>
        <title>DT Midstream, Inc.</title>
        <cusip>23345M107</cusip>
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          <isin value="US23345M1071"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Accenture plc</name>
        <lei>5493000EWHDSR3MZWH98</lei>
        <title>Accenture plc, Class A</title>
        <cusip>N/A</cusip>
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          <isin value="IE00B4BNMY34"/>
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        <balance>33606.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fastenal Co.</name>
        <lei>529900PP0C7H2HHPSJ32</lei>
        <title>Fastenal Co.</title>
        <cusip>311900104</cusip>
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        <balance>93157.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Electronic Arts, Inc.</name>
        <lei>549300O7A67PUEYKDL45</lei>
        <title>Electronic Arts, Inc.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Centene Corp.</name>
        <lei>549300Z7JJ4TQSQGT333</lei>
        <title>Centene Corp.</title>
        <cusip>15135B101</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Cencora, Inc.</name>
        <lei>AI8GXW8LG5WK7E9UD086</lei>
        <title>Cencora, Inc.</title>
        <cusip>03073E105</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lockheed Martin Corp.</name>
        <lei>DPRBOZP0K5RM2YE8UU08</lei>
        <title>Lockheed Martin Corp.</title>
        <cusip>539830109</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Garmin Ltd.</name>
        <lei>2549001E0HIPIJQ0W046</lei>
        <title>Garmin Ltd.</title>
        <cusip>N/A</cusip>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>FTI Consulting, Inc.</name>
        <lei>549300K17GM8EQD0FQ48</lei>
        <title>FTI Consulting, Inc.</title>
        <cusip>302941109</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Cintas Corp.</name>
        <lei>N/A</lei>
        <title>Cintas Corp.</title>
        <cusip>172908105</cusip>
        <identifiers>
          <isin value="US1729081059"/>
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        <balance>130291.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>29037955.17000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Linde plc</name>
        <lei>5299003QR1WT0EF88V51</lei>
        <title>Linde plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="IE000S9YS762"/>
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        <balance>11232.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5269829.76000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-07-30</ncom:dateSigned>
      <ncom:nameOfApplicant>AQR Funds</ncom:nameOfApplicant>
      <ncom:signature>Matthew Plastina</ncom:signature>
      <ncom:signerName>Matthew Plastina</ncom:signerName>
      <ncom:title>Chief Financial Officer and Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
