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      <invstOrSec>
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        <lei>N/A</lei>
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      <invstOrSec>
        <name>CIRRUS LOGIC CORP</name>
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      <invstOrSec>
        <name>CITI TRENDS INC</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>AGREE REALTY CORPORATION</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>COMMUNITY TRUST BANCORP INC</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>COMMVAULT SYSTEMS INC</name>
        <lei>65T5VRP62VXG39YFML83</lei>
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      <invstOrSec>
        <name>AIR LEASE CORPORATION</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>COMPASS MINERALS INTERNATIONAL INC</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>COMPUTER PROGRAMS AND SYSTEMS INC</name>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>COMTECH TELECOMMUNICATIONS CORP</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CONDUENT INCORPORATED</name>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>CONMED CORPORATION</name>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>CONNS INC</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CONSOL ENERGY INC (AKA CONSOL MINING CORP)</name>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>CONSOLIDATED COMMUNICATIONS (CONSOLIDATED COMMUNICATIONS HOLDINGS INC)</name>
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        <name>CONTAINER STORE GROUP INC</name>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <name>CONTINENTAL BUILDING PRODUCTS INC</name>
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        <assetCat>EC</assetCat>
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        <name>AIR TRANSPORT SERVICES GROUP INC</name>
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        <name>COOPER-STANDARD HOLDINGS INC</name>
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        <name>CORE-MARK HOLDING COMPANY INC</name>
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        <name>CORELOGIC INC</name>
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        <name>CORENERGY INFRASTRUCTURE TRUST INC</name>
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        <name>CORPORATE OFFICE PROPERTIES TRUST</name>
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        <title>CORPORATE OFFICE PROPERTIES REIT USD.01</title>
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        <name>AARONS INC</name>
        <lei>529900IVEJ72I7MQ3Z14</lei>
        <title>AARON S INC COMMON STOCK USD.5</title>
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        <assetCat>EC</assetCat>
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        <name>COTT CORPORATION</name>
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        <title>COTT CORPORATION COMMON STOCK</title>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>COUSINS PROPERTIES INCORPORATED</name>
        <lei>5493007XPYD5EJABN062</lei>
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          <isin value="US2227955026"/>
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        <balance>9989.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>411546.800000</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>
        <name>AIRCASTLE LIMITED</name>
        <lei>549300PNK8AKY3OIKP58</lei>
        <title>AIRCASTLE LTD COMMON STOCK USD.01</title>
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          <isin value="BMG0129K1045"/>
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        <curCd>USD</curCd>
        <valUSD>657485.400000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COVANTA HOLDING CORPORATION</name>
        <lei>40XIFLS8XDQGGHGPGC04</lei>
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          <isin value="US22282E1029"/>
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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>
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      <invstOrSec>
        <name>COWEN INC</name>
        <lei>5493008QI0EFC5WBED75</lei>
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          <isin value="US2236226062"/>
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        <balance>3302.000000</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>CRACKER BARREL OLD COUNTRY STORE INC</name>
        <lei>8P4PHQIUWPIECBFBW745</lei>
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          <isin value="US22410J1060"/>
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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>CROCS INC</name>
        <lei>549300B0J6YCXD63OG72</lei>
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        <curCd>USD</curCd>
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        <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>CSG SYSTEMS INTL INC</name>
        <lei>549300D7FJZUOHHXUA81</lei>
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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>CTS CORPORATION</name>
        <lei>549300YV1HQLBVHOI649</lei>
        <title>CTS CORP COMMON STOCK</title>
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        <curCd>USD</curCd>
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        <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>CUBIC CORPORATION</name>
        <lei>6HHLXIOGCDNZ4IRAIW26</lei>
        <title>CUBIC CORP COMMON STOCK</title>
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        <balance>1522.000000</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>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CUSHMAN &amp; WAKEFIELD PLC</name>
        <lei>N/A</lei>
        <title>CUSHMAN + WAKEFIELD PLC COMMON STOCK USD.01</title>
        <cusip>G2717B108</cusip>
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          <isin value="GB00BFZ4N465"/>
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        <balance>1082.000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CUSTOMERS BANCORP INC</name>
        <lei>549300WLBCHYKZ53FN68</lei>
        <title>CUSTOMERS BANCORP INC COMMON STOCK USD1.0</title>
        <cusip>23204G100</cusip>
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        <balance>4364.000000</balance>
        <units>NS</units>
        <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>CVB FINANCIAL CORP</name>
        <lei>N/A</lei>
        <title>CVB FINANCIAL CORP COMMON STOCK</title>
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        <balance>5343.000000</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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      <invstOrSec>
        <name>AK STEEL HOLDING CORPORATION</name>
        <lei>529900DT4E7ZNETMVC04</lei>
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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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      <invstOrSec>
        <name>DAKTRONICS INC</name>
        <lei>N/A</lei>
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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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      <invstOrSec>
        <name>DANA INC (AKA: DANA HOLDING CORP)</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>DARLING INGREDIENTS INC</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>DAVE &amp; BUSTERS ENTERTAINMENT INC</name>
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        <name>AKORN INC</name>
        <lei>549300REUQNNF5W5TA64</lei>
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        <name>DECKERS OUTDOOR CORPORATION</name>
        <lei>5493008LG4W3I6K8J118</lei>
        <title>DECKERS OUTDOOR CORP COMMON STOCK USD.01</title>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>DELEK US HOLDINGS INC</name>
        <lei>5493003O53JMENV1N385</lei>
        <title>DELEK US HOLDINGS INC COMMON STOCK USD.01</title>
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        <assetCat>EC</assetCat>
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        <name>DELPHI TECHNOLOGIES PLC</name>
        <lei>549300SEU65CJHRH6V04</lei>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>DELUXE CORPORATION</name>
        <lei>KWGNKB8TX9LE5TV29231</lei>
        <title>DELUXE CORP COMMON STOCK USD1.0</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>DENBURY RESOURCES INC</name>
        <lei>549300KCWA5W52MS5559</lei>
        <title>DENBURY RESOURCES INC COMMON STOCK USD.001</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>DENNYS CORPORATION</name>
        <lei>54930037V56XOULXM917</lei>
        <title>DENNY S CORP COMMON STOCK USD.01</title>
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        <curCd>USD</curCd>
        <valUSD>124409.040000</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>
        <name>ALAMO GROUP INC</name>
        <lei>54930080C93RVZRSDV26</lei>
        <title>ALAMO GROUP INC COMMON STOCK USD.1</title>
        <cusip>011311107</cusip>
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          <isin value="US0113111076"/>
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        <balance>296.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>37162.800000</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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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DESIGNER BRANDS INC</name>
        <lei>549300X8J6FI8PPRK859</lei>
        <title>DESIGNER BRANDS INC CLASS A COMMON STOCK</title>
        <cusip>250565108</cusip>
        <identifiers>
          <isin value="US2505651081"/>
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        <balance>17641.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>277669.340000</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>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DIAMONDROCK HOSPITALITY COMPANY</name>
        <lei>529900KKD4BPVBUAQ734</lei>
        <title>DIAMONDROCK HOSPITALITY CO REIT USD.01</title>
        <cusip>252784301</cusip>
        <identifiers>
          <isin value="US2527843013"/>
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        <balance>36217.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>401284.360000</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>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ALBANY INTERNATIONAL CORP</name>
        <lei>L73WCPNCZIRSQGZTW097</lei>
        <title>ALBANY INTL CORP CL A COMMON STOCK USD.001</title>
        <cusip>012348108</cusip>
        <identifiers>
          <isin value="US0123481089"/>
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        <balance>1448.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>109932.160000</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>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DIEBOLD NIXDORF INCORPORATED</name>
        <lei>549300XZK6EWDBAZSY16</lei>
        <title>DIEBOLD NIXDORF INC COMMON STOCK USD1.25</title>
        <cusip>253651103</cusip>
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          <isin value="US2536511031"/>
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        <balance>45934.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>485063.040000</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>
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      <invstOrSec>
        <name>DIGI INTL INC</name>
        <lei>529900KG656HGROI4N27</lei>
        <title>DIGI INTERNATIONAL INC COMMON STOCK USD.01</title>
        <cusip>253798102</cusip>
        <identifiers>
          <isin value="US2537981027"/>
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        <balance>1812.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>32108.640000</valUSD>
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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>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DIME COMMUNITY BANCSHARES</name>
        <lei>N/A</lei>
        <title>DIME COMMUNITY BANCSHARES COMMON STOCK USD.01</title>
        <cusip>253922108</cusip>
        <identifiers>
          <isin value="US2539221083"/>
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        <balance>4866.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>101650.740000</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>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DINE BRANDS GLOBAL INC (AKA: DINEEQUITY INC)</name>
        <lei>529900HKM8OWSHLKJY75</lei>
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        <cusip>254423106</cusip>
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          <isin value="US2544231069"/>
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        <balance>2375.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>198360.000000</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>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DIODES INCORPORATED</name>
        <lei>549300XP2X1ARVH3BX23</lei>
        <title>DIODES INC COMMON STOCK USD.667</title>
        <cusip>254543101</cusip>
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          <isin value="US2545431015"/>
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        <balance>3425.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>193067.250000</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>
        <name>DIPLOMAT PHARMACY INC</name>
        <lei>549300JMF6BE0NGN4Q45</lei>
        <title>DIPLOMAT PHARMACY INC COMMON STOCK</title>
        <cusip>25456K101</cusip>
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          <isin value="US25456K1016"/>
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        <balance>4211.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>16844.000000</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>
        <name>ALEXANDER &amp; BALDWIN INC (AKA ALEXANDER &amp; BALDWIN REIT HOLDING)</name>
        <lei>N/A</lei>
        <title>ALEXANDER + BALDWIN INC REIT</title>
        <cusip>014491104</cusip>
        <identifiers>
          <isin value="US0144911049"/>
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        <balance>9566.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>200503.360000</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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      <invstOrSec>
        <name>ALEXANDERS INC</name>
        <lei>549300TZM28P04U5R635</lei>
        <title>ALEXANDER S INC REIT USD1.0</title>
        <cusip>014752109</cusip>
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        <balance>103.000000</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>DOMTAR CORPORATION</name>
        <lei>XYSIJOU3HNVROZWNA008</lei>
        <title>DOMTAR CORP COMMON STOCK USD.01</title>
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        <balance>13234.000000</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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      <invstOrSec>
        <name>DONNELLEY FINANCIAL SOLUTIONS INC</name>
        <lei>549300O1NPY4J56QCU04</lei>
        <title>DONNELLEY FINANCIAL SOLUTION COMMON STOCK USD.01</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>DORMAN PRODUCTS INC</name>
        <lei>N/A</lei>
        <title>DORMAN PRODUCTS INC COMMON STOCK USD.01</title>
        <cusip>258278100</cusip>
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        <balance>1899.000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>DOUGLAS DYNAMICS INC</name>
        <lei>529900CDFLKNQ0QT6580</lei>
        <title>DOUGLAS DYNAMICS INC COMMON STOCK USD.01</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>DRIL-QUIP INC</name>
        <lei>5299007REICYIJNMW197</lei>
        <title>DRIL QUIP INC COMMON STOCK USD.01</title>
        <cusip>262037104</cusip>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>DRIVE SHACK INC (AKA: NEWCASTLE INVESTMENT CORP)</name>
        <lei>549300BOELL93IDPTJ73</lei>
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        <cusip>262077100</cusip>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>DUCOMMUN INCORPORATED</name>
        <lei>549300Z71HMWF90S2214</lei>
        <title>DUCOMMUN INC COMMON STOCK USD.01</title>
        <cusip>264147109</cusip>
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        <curCd>USD</curCd>
        <valUSD>18797.160000</valUSD>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>DXP ENTERPRISES INC</name>
        <lei>N/A</lei>
        <title>DXP ENTERPRISES INC COMMON STOCK USD.01</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>DYCOM INDUSTRIES INC</name>
        <lei>549300F56EKTHQI3WT60</lei>
        <title>DYCOM INDUSTRIES INC COMMON STOCK USD.333</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>DYNEX CAPITAL INC</name>
        <lei>5CIJ4S9HAEBWILA19B65</lei>
        <title>DYNEX CAPITAL INC REIT USD.01</title>
        <cusip>26817Q886</cusip>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>37183.300000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>EAGLE BANCORP INC</name>
        <lei>549300B47NZODRMG3D47</lei>
        <title>EAGLE BANCORP INC COMMON STOCK USD.01</title>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>100080.540000</valUSD>
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        <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>EAGLE MATERIALS INC</name>
        <lei>529900KRXRGXL61SG039</lei>
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          <isin value="US26969P1084"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>EASTGROUP PROPERTIES INC</name>
        <lei>31TIGQQZC4P6JMHKSW85</lei>
        <title>EASTGROUP PROPERTIES INC REIT</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>EBIX INC</name>
        <lei>549300DHXVZR5SW5QR44</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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      <invstOrSec>
        <name>ECHO GLOBAL LOGISTICS INC</name>
        <lei>N/A</lei>
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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>EDGEWELL PERSONAL CARE CO (AKA: ENERGIZER HOLDINGS 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>ALLEGHENY TECHNOLOGIES INCORPORATED</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>EHEALTH INC</name>
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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>EL PASO ELECTRIC COMPANY</name>
        <lei>OZ8GM8L4AHPKSWZMW205</lei>
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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>EL POLLO LOCO HOLDINGS INC</name>
        <lei>549300EZCBNF4G707K90</lei>
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        <curCd>USD</curCd>
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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>ELDORADO RESORTS INC</name>
        <lei>5299000BKFWWVND5L441</lei>
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          <isin value="US28470R1023"/>
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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>ALLEGIANT TRAVEL COMPANY</name>
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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>ELEMENT SOLUTIONS INC</name>
        <lei>549300FLGN6P5CU20J91</lei>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>EMCOR GROUP INC</name>
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        <cusip>29084Q100</cusip>
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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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      <invstOrSec>
        <name>EMERGENT BIOSOLUTIONS INC</name>
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      <invstOrSec>
        <name>EMPIRE STATE REALTY TRUST INC</name>
        <lei>549300VOKY1DUEQSB456</lei>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>EMPLOYERS HOLDINGS INC</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>ALLETE INC</name>
        <lei>549300NNLSIMY6Z8OT86</lei>
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        <name>ENCORE CAPITAL GROUP INC</name>
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        <assetCat>EC</assetCat>
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        <name>ENCORE WIRE CORPORATION</name>
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        <name>ENDURANCE INTERNATIONAL GROUP HOLDINGS INC</name>
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        <name>ENERSYS INC</name>
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        <name>ENNIS INC</name>
        <lei>N/A</lei>
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        <name>ENOVA INTERNATIONAL INC</name>
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      </invstOrSec>
      <invstOrSec>
        <name>ENPRO INDUSTRIES INC</name>
        <lei>549300Y5CFT2LKCFDN54</lei>
        <title>ENPRO INDUSTRIES INC COMMON STOCK USD.01</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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      <invstOrSec>
        <name>ENSIGN GROUP INC/THE</name>
        <lei>5493003K4HEEA8Q0BC72</lei>
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          <isin value="US29358P1012"/>
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        <balance>3055.000000</balance>
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        <curCd>USD</curCd>
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        <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>ENTERCOM COMMUNICATIONS CORP</name>
        <lei>N/A</lei>
        <title>ENTERCOM COMMUNICATIONS CL A COMMON STOCK USD.01</title>
        <cusip>293639100</cusip>
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          <isin value="US2936391000"/>
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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>ENVESTNET INC</name>
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        <curCd>USD</curCd>
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        <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>EPLUS INC</name>
        <lei>529900FFY8AAFJ21NE91</lei>
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        <cusip>294268107</cusip>
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        <balance>1467.000000</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>EQUITY COMMONWEALTH</name>
        <lei>549300YPGVU9PR4L0606</lei>
        <title>EQUITY COMMONWEALTH REIT USD.01</title>
        <cusip>294628102</cusip>
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          <isin value="US2946281027"/>
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        <balance>9712.000000</balance>
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        <curCd>USD</curCd>
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        <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>ESCO TECHNOLOGIES INC</name>
        <lei>5493007JJLP5MEWVDH10</lei>
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          <isin value="US2963151046"/>
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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>ESSENT GROUP LTD</name>
        <lei>254900QUO860OUT6ZF83</lei>
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          <isin value="BMG3198U1027"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ETHAN ALLEN INTERIORS INC</name>
        <lei>N/A</lei>
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        <balance>3494.000000</balance>
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        <curCd>USD</curCd>
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        <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>ALLSCRIPTS HEALTHCARE SOLUTIONS INC</name>
        <lei>Y68YJHVB1GU4TAU3C223</lei>
        <title>ALLSCRIPTS HEALTHCARE SOLUTI COMMON STOCK USD.01</title>
        <cusip>01988P108</cusip>
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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>EVERCORE INC</name>
        <lei>529900P6KLPT95DW3W58</lei>
        <title>EVERCORE INC   A COMMON STOCK USD.01</title>
        <cusip>29977A105</cusip>
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        <curCd>USD</curCd>
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        <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>EVOLENT HEALTH INC</name>
        <lei>549300CZOCFHQ2BBTR11</lei>
        <title>EVOLENT HEALTH INC   A COMMON STOCK USD.01</title>
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        <curCd>USD</curCd>
        <valUSD>12344.200000</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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      <invstOrSec>
        <name>EXANTAS CAPITAL CORP (AKA: RESOURCE CAPITAL CORP)</name>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>EXLSERVICE HOLDINGS INC</name>
        <lei>81E3DTNF6OSH489ZOV15</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>EXPONENT INC</name>
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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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        <name>EXPRESS INC</name>
        <lei>N/A</lei>
        <title>EXPRESS INC COMMON STOCK</title>
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        <name>EXTENDED STAY AMERICA INC</name>
        <lei>549300IESZBC3BJUJW64</lei>
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        <assetCat>EC</assetCat>
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        <name>EXTERRAN CORPORATION</name>
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        <name>EXTREME NETWORKS INC</name>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <name>EZCORP INC</name>
        <lei>5493003K6PG3ZQ7TUQ63</lei>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <name>FARO TECHNOLOGIES INC</name>
        <lei>529900MFEFNOFP3YR823</lei>
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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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        <name>FBL FINANCIAL GROUP INC</name>
        <lei>N/A</lei>
        <title>FBL FINANCIAL GROUP INC CL A COMMON STOCK</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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        <name>FEDERAL AGRICULTURAL MORTGAGE CORPORATION (FARMER MAC)</name>
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        <title>FEDERAL AGRIC MTG CORP CL C COMMON STOCK USD1.0</title>
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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>
      <invstOrSec>
        <name>FEDERAL SIGNAL CORPORATION</name>
        <lei>549300RTXZRPTNP6G884</lei>
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        <cusip>313855108</cusip>
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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>
      <invstOrSec>
        <name>FEDERATED INVESTORS INC</name>
        <lei>R05X5UQ874RGFF7HHD84</lei>
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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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      <invstOrSec>
        <name>FERRO CORPORATION</name>
        <lei>1YTO5R7OHOPE81ZNYD08</lei>
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        <curCd>USD</curCd>
        <valUSD>35903.430000</valUSD>
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        <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>FINANCIAL INSTITUTIONS INC</name>
        <lei>N/A</lei>
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          <isin value="US3175854047"/>
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        <curCd>USD</curCd>
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        <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>FIREEYE INC</name>
        <lei>549300E9D2UJUFLLY524</lei>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>FIRST BANCORP</name>
        <lei>N/A</lei>
        <title>FIRST BANCORP/NC COMMON STOCK</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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      <invstOrSec>
        <name>FIRST BUSEY CORPORATION</name>
        <lei>549300X4ZNLYSX7GUY60</lei>
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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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      <invstOrSec>
        <name>FIRST COMMONWEALTH FINANCIAL CORPORATION</name>
        <lei>549300ZHLQ42NXDETL24</lei>
        <title>FIRST COMMONWEALTH FINL CORP COMMON STOCK USD1.0</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>FIRST FINANCIAL CORP INDIANA</name>
        <lei>N/A</lei>
        <title>FIRST FINANCIAL CORP/INDIANA COMMON STOCK</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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      <invstOrSec>
        <name>FIRST FINL BANCORP</name>
        <lei>549300D3F5B3EZMY7P77</lei>
        <title>FIRST FINANCIAL BANCORP COMMON STOCK</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>FIRST FINL BANKSHARES 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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      <invstOrSec>
        <name>FIRST HAWAIIAN INC</name>
        <lei>5493002DJSH46F5OLV06</lei>
        <title>FIRST HAWAIIAN INC COMMON STOCK USD.01</title>
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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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      <invstOrSec>
        <name>FIRST INDUSTRIAL REALTY TRUST INC</name>
        <lei>N/A</lei>
        <title>FIRST INDUSTRIAL REALTY TR REIT USD.01</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>FIRST INTERSTATE BANCSYSTEM INC</name>
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        <title>FIRST INTERSTATE BANCSYS A COMMON STOCK</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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      <invstOrSec>
        <name>FIRST MERCHANTS CORPORATION</name>
        <lei>TZTBT0OTGQ2FEK6XMX94</lei>
        <title>FIRST MERCHANTS CORP COMMON STOCK</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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      <invstOrSec>
        <name>FIRST MIDWEST BANCORP INC</name>
        <lei>7XRS7ORI584PF41IVU88</lei>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>FIRSTCASH INC (AKA: FIRST CASH FINANCIAL SERVICES INC)</name>
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      <invstOrSec>
        <name>FITBIT INC</name>
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        <name>FLAGSTAR BANCORP INC</name>
        <lei>549300Q22V2Y3J4R2715</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>FLOOR &amp; DECOR HOLDINGS INC</name>
        <lei>549300M5FR3N688XGQ36</lei>
        <title>FLOOR + DECOR HOLDINGS INC A COMMON STOCK USD.001</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <name>FLOWERS FOODS INC</name>
        <lei>7YNCQQNDK8FBM9BBTK25</lei>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>FLUSHING FINANCIAL CORPORATION</name>
        <lei>N/A</lei>
        <title>FLUSHING FINANCIAL CORP COMMON STOCK USD.01</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>FNB CORPORATION</name>
        <lei>PCYSKIGYNYFDTBLVZU83</lei>
        <title>FNB CORP COMMON STOCK USD.01</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>FORMFACTOR INC</name>
        <lei>549300YCEEO6SZD1ZR61</lei>
        <title>FORMFACTOR INC COMMON STOCK USD.001</title>
        <cusip>346375108</cusip>
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      <invstOrSec>
        <name>GEO GROUP INC/THE</name>
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      <invstOrSec>
        <name>GETTY REALTY CORP</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>GIBRALTAR INDUSTRIES INC</name>
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      <invstOrSec>
        <name>AMC NETWORKS INC</name>
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      <invstOrSec>
        <name>GLACIER BANCORP INC</name>
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      <invstOrSec>
        <name>GLADSTONE COMMERCIAL CORPORATION</name>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>GLATFELTER</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>GLOBAL NET LEASE INC</name>
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      <invstOrSec>
        <name>GMS INC</name>
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      <invstOrSec>
        <name>GOPRO INC</name>
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        <name>GORMAN-RUPP CO</name>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>GRAHAM HOLDINGS CO (AKA: WASHINGTON POST CO)</name>
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        <name>AMEDISYS INC</name>
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        <name>GRANITE CONSTR INC</name>
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        <name>GRANITE POINT MORTGAGE TRUST INC</name>
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        <name>GRAPHIC PACKAGING HOLDING COMPANY</name>
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        <name>GREAT SOUTHERN BANCORP INC</name>
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        <name>GREAT WESTERN BANCORP INC</name>
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        <name>GREEN DOT CORPORATION</name>
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        <name>GREEN PLAINS INC</name>
        <lei>VJ5WLTHARBSDR14KIZ98</lei>
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      <invstOrSec>
        <name>GREENBRIER COMPANIES INC</name>
        <lei>5493001GAGGFR30BP390</lei>
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      <invstOrSec>
        <name>GREENHILL &amp; CO INC</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>GREIF INC</name>
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      <invstOrSec>
        <name>GRIFFON CORPORATION</name>
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      <invstOrSec>
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        <name>GROUPON INC</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HCI GROUP INC</name>
        <lei>549300CZF7EZJH0MPH74</lei>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HEALTHCARE REALTY TRUST INCORPORATED</name>
        <lei>549300CB86LH2IOKHH22</lei>
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          <isin value="US4219461047"/>
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        <balance>10769.000000</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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      <invstOrSec>
        <name>HEALTHCARE SERVICES GROUP</name>
        <lei>529900GVZ1D2FBYMS719</lei>
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          <isin value="US4219061086"/>
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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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      <invstOrSec>
        <name>HEARTLAND EXPRESS INC</name>
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          <isin value="US4223471040"/>
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        <balance>1854.000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HEARTLAND FINANCIAL USA INC</name>
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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>HECLA MINING COMPANY</name>
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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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      <invstOrSec>
        <name>AMERICAN EAGLE OUTFITTERS INC</name>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>HEIDRICK &amp; STRUGGLES INTL</name>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HELEN OF TROY CORP L</name>
        <lei>N/A</lei>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HELIX ENERGY SOLUTIONS GROUP</name>
        <lei>416AP2JOUTCWEGSOZW41</lei>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HERC HOLDINGS INC</name>
        <lei>549300TP80QLITMSBP82</lei>
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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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      <invstOrSec>
        <name>HERCULES CAPITAL INC (AKA: HERCULES TECHNOLOGY GROWTH CAPITAL INC)</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HERITAGE FINANCIAL CORPORATION</name>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>HERSHA HOSPITALITY TRUST</name>
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        <assetCat>EC</assetCat>
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        <name>AMERICAN EQUITY INVESTMENT LIFE HLDNG CO</name>
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        <assetCat>EC</assetCat>
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        <name>HILLENBRAND INC</name>
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        <name>HILLTOP HOLDINGS INC</name>
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        <assetCat>EC</assetCat>
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        <name>HOME BANCSHARES INC</name>
        <lei>N/A</lei>
        <title>HOME BANCSHARES INC COMMON STOCK USD.01</title>
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        <title>AMERICAN FINANCE TRUST INC REIT</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <name>HOMESTREET INC</name>
        <lei>N/A</lei>
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        <balance>3926.000000</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>
      <invstOrSec>
        <name>HOMETRUST BANCSHARES INC</name>
        <lei>N/A</lei>
        <title>HOMETRUST BANCSHARES INC COMMON STOCK</title>
        <cusip>437872104</cusip>
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          <isin value="US4378721041"/>
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        <balance>927.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>24871.410000</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>HOPE BANCORP INC (AKA: BBCN BANCORP INC)</name>
        <lei>549300UTF4QGMBHIZ219</lei>
        <title>HOPE BANCORP INC COMMON STOCK USD.001</title>
        <cusip>43940T109</cusip>
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          <isin value="US43940T1097"/>
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        <balance>11754.000000</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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      </invstOrSec>
      <invstOrSec>
        <name>HORACE MANN EDUCATORS CORPORATION</name>
        <lei>254900G5YAV3A2YK8T32</lei>
        <title>HORACE MANN EDUCATORS COMMON STOCK USD.001</title>
        <cusip>440327104</cusip>
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          <isin value="US4403271046"/>
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        <balance>3285.000000</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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HORIZON PHARMA PLC</name>
        <lei>529900P0GSQ79OOZEV53</lei>
        <title>HORIZON THERAPEUTICS PLC COMMON STOCK USD.0001</title>
        <cusip>G46188101</cusip>
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          <isin value="IE00BQPVQZ61"/>
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        <balance>3582.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>129668.400000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HOSTESS BRANDS INC</name>
        <lei>N/A</lei>
        <title>HOSTESS BRANDS INC COMMON STOCK USD.0001</title>
        <cusip>44109J106</cusip>
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          <isin value="US44109J1060"/>
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        <balance>8503.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>123633.620000</valUSD>
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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>
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      <invstOrSec>
        <name>HOUGHTON MIFFLIN HARCOURT COMPANY</name>
        <lei>N/A</lei>
        <title>HOUGHTON MIFFLIN HARCOURT CO COMMON STOCK USD.01</title>
        <cusip>44157R109</cusip>
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          <isin value="US44157R1095"/>
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        <balance>45582.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>284887.500000</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>
        <name>HOULIHAN LOKEY INC</name>
        <lei>549300S3CNGTQ1QZVY46</lei>
        <title>HOULIHAN LOKEY INC COMMON STOCK USD.001</title>
        <cusip>441593100</cusip>
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          <isin value="US4415931009"/>
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        <balance>1973.000000</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>HUB GROUP INC</name>
        <lei>N/A</lei>
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        <cusip>443320106</cusip>
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          <isin value="US4433201062"/>
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        <balance>2088.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>107093.520000</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>
        <name>HUDSON LTD</name>
        <lei>N/A</lei>
        <title>HUDSON LTD CLASS A COMMON STOCK USD.001</title>
        <cusip>G46408103</cusip>
        <identifiers>
          <isin value="BMG464081030"/>
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        <balance>8784.000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HURON CONSULTING GROUP INC</name>
        <lei>549300NGVB9H6TKTLE36</lei>
        <title>HURON CONSULTING GROUP INC COMMON STOCK USD.01</title>
        <cusip>447462102</cusip>
        <identifiers>
          <isin value="US4474621020"/>
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        <balance>2272.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>156131.840000</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>
        <name>HYSTER-YALE MATERIALS HANDLING INC</name>
        <lei>N/A</lei>
        <title>HYSTER YALE MATERIALS COMMON STOCK USD.01</title>
        <cusip>449172105</cusip>
        <identifiers>
          <isin value="US4491721050"/>
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        <balance>1156.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>68157.760000</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>
        <name>AMERICAN NATIONAL INSURANCE COMPANY</name>
        <lei>549300RZTZ0HILNF3Y05</lei>
        <title>AMERICAN NATIONAL INSURANCE COMMON STOCK USD1.0</title>
        <cusip>028591105</cusip>
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        <balance>940.000000</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>AMERICAN OUTDOOR BRANDS CORP (AKA: SMITH &amp; WESSON HOLDING CORPORATION)</name>
        <lei>5493004PFHUPOR1PWN79</lei>
        <title>AMERICAN OUTDOOR BRANDS CORP COMMON STOCK USD.001</title>
        <cusip>02874P103</cusip>
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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>IBERIABANK CORPORATION</name>
        <lei>WQ4U3ADCR5WID15LA317</lei>
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        <cusip>450828108</cusip>
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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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      <invstOrSec>
        <name>ICF INTERNATIONAL INC</name>
        <lei>5493003KYFDDC5B3WY64</lei>
        <title>ICF INTERNATIONAL INC COMMON STOCK USD.001</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>AMERICAN PUBLIC EDUCATION</name>
        <lei>N/A</lei>
        <title>AMERICAN PUBLIC EDUCATION COMMON STOCK USD.01</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>IDT CORPORATION</name>
        <lei>549300JNTN7ZMJDFCL56</lei>
        <title>IDT CORP CLASS B COMMON STOCK USD.01</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>AMERICAN STATES WATER COMPANY</name>
        <lei>529900L26LIS2V8PWM23</lei>
        <title>AMERICAN STATES WATER CO COMMON STOCK</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>II-VI INCORPORATED</name>
        <lei>549300O5C25A0MMHHU33</lei>
        <title>II VI INC COMMON STOCK</title>
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        <balance>5547.000000</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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        <name>ABERCROMBIE &amp; FITCH CO</name>
        <lei>5493000J7LL72TOGT983</lei>
        <title>ABERCROMBIE + FITCH CO CL A COMMON STOCK USD.01</title>
        <cusip>002896207</cusip>
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        <balance>32394.000000</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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        <name>INDEPENDENCE REALTY TRUST INC</name>
        <lei>N/A</lei>
        <title>INDEPENDENCE REALTY TRUST IN REIT USD.01</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>INDEPENDENT BANK CORP</name>
        <lei>549300C5K3W8THR3GE10</lei>
        <title>INDEPENDENT BANK CORP/MA COMMON STOCK USD.01</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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        <name>INDUSTRIAL LOGISTICS PROPERTIES TRUST</name>
        <lei>N/A</lei>
        <title>INDUSTRIAL LOGISTICS PROPERT REIT USD.01</title>
        <cusip>456237106</cusip>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AMERICAS CAR-MART INC</name>
        <lei>N/A</lei>
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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>INFINERA CORPORATION</name>
        <lei>549300ZOF66WPV3H0H17</lei>
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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>INGEVITY CORPORATION</name>
        <lei>5493009UTFC4B5IMGF87</lei>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AMERICOLD REALTY TRUST</name>
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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>INGLES MARKETS INCORPORATED</name>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>INNERWORKINGS INC</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>INNOPHOS HOLDINGS INC</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>INNOSPEC INC</name>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>INOVALON HOLDINGS INC</name>
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        <curCd>USD</curCd>
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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>INPHI CORPORATION</name>
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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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      <invstOrSec>
        <name>INSIGHT ENTERPRISES INC</name>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>INSTALLED BUILDING PRODUCTS 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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      <invstOrSec>
        <name>INTEGER HOLDINGS CORP (AKA: GREATBATCH INC)</name>
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        <assetCat>EC</assetCat>
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        <name>INTEGRA LIFESCIENCES HOLDINGS CORPORATION</name>
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        <name>INTER PARFUMS INC</name>
        <lei>N/A</lei>
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        <name>INTERDIGITAL INC</name>
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        <name>INTERNATIONAL BANCSHARES CORPORATION</name>
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        <lei>PBJHNT51T5V6G5UQFV42</lei>
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        <name>INTERNATIONAL SEAWAYS INC</name>
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        <assetCat>EC</assetCat>
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        <name>INVACARE CORPORATION</name>
        <lei>549300NNUTG7HCZICS76</lei>
        <title>INVACARE CORP COMMON STOCK USD.25</title>
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        <assetCat>EC</assetCat>
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        <name>INVESCO MORTGAGE CAPITAL INC</name>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <name>INVESTORS BANCORP INC</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>INVESTORS REAL ESTATE TRUST</name>
        <lei>5493002LG2SH9EEHT720</lei>
        <title>INVESTORS REAL ESTATE TRUST REIT</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>IRIDIUM COMMUNICATIONS INC</name>
        <lei>549300U620NVQ4J1CT96</lei>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>IROBOT CORPORATION</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ISTAR INC (AKA: ISTAR FINANCIAL INC)</name>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ITRON INC</name>
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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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      <invstOrSec>
        <name>AMKOR TECHNOLOGY INC</name>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>J &amp; J SNACK FOODS CORP</name>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>J2 GLOBAL INC</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>JACK IN THE BOX INC</name>
        <lei>5493002OJW26P0SUUP68</lei>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ABM INDUSTRIES INCORPORATED</name>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AMN HEALTHCARE SERVICES INC</name>
        <lei>529900W3ARRTCNFH2I39</lei>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AMNEAL PHARMACEUTICALS INC</name>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>JELD-WEN HOLDING INC</name>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>JOHN B SANFILIPPO &amp; SON INC</name>
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        <assetCat>EC</assetCat>
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        <name>JOHN BEAN TECHNOLOGIES CORPORATION</name>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <name>JOHN WILEY &amp; SONS INC</name>
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        <assetCat>EC</assetCat>
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        <name>AMPLIFY ENERGY CORP</name>
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        <assetCat>EC</assetCat>
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        <name>K12 INC</name>
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        <name>KAISER ALUMINUM CORPORATION</name>
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        <name>KAMAN CORPORATION</name>
        <lei>5493003YK076OLTEQF95</lei>
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        <assetCat>EC</assetCat>
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        <name>KB HOME</name>
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        <name>ANDERSONS INC/THE</name>
        <lei>L38MWB8MVRFV7HVJPU11</lei>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>KBR INC</name>
        <lei>254900OFQDXZRKRCV808</lei>
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        <assetCat>EC</assetCat>
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        <name>KEARNY FINANCIAL CORP</name>
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      <invstOrSec>
        <name>KELLY SERVICES INC</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>KEMET CORPORATION</name>
        <lei>529900G5ZS8VVA2TY376</lei>
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      <invstOrSec>
        <name>KENNAMETAL INC</name>
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      <invstOrSec>
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        <assetCat>EC</assetCat>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>KFORCE INC</name>
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      <invstOrSec>
        <name>KIRKLANDS INC</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>KITE REALTY GROUP TRUST</name>
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      <invstOrSec>
        <name>KNOLL INC</name>
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      <invstOrSec>
        <name>KNOWLES CORPORATION</name>
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        <name>KOPPERS HOLDINGS INC</name>
        <lei>N/A</lei>
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        <name>KORN FERRY</name>
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        <name>LANDSTAR SYS INC</name>
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        <name>LANNETT COMPANY INC</name>
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        <name>LATTICE SEMICONDUCTOR CORPORATION</name>
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      <invstOrSec>
        <name>M/I HOMES INC</name>
        <lei>5299005M71FH9CCSFB69</lei>
        <title>M/I HOMES INC COMMON STOCK USD.01</title>
        <cusip>55305B101</cusip>
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        <balance>5838.000000</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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      </invstOrSec>
      <invstOrSec>
        <name>MACK-CALI REALTY CORPORATION</name>
        <lei>N/A</lei>
        <title>MACK CALI REALTY CORP REIT USD.01</title>
        <cusip>554489104</cusip>
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          <isin value="US5544891048"/>
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        <balance>14860.000000</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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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MACOM TECHNOLOGY SOLUTIONS HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>MACOM TECHNOLOGY SOLUTIONS H COMMON STOCK USD.001</title>
        <cusip>55405Y100</cusip>
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          <isin value="US55405Y1001"/>
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        <curCd>USD</curCd>
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        <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>MAGELLAN HEALTH INC</name>
        <lei>N/A</lei>
        <title>MAGELLAN HEALTH INC COMMON STOCK USD.01</title>
        <cusip>559079207</cusip>
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          <isin value="US5590792074"/>
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        <balance>3768.000000</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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MANHATTAN ASSOCIATES INC</name>
        <lei>529900Q1GJP7KD52SW51</lei>
        <title>MANHATTAN ASSOCIATES INC COMMON STOCK USD.01</title>
        <cusip>562750109</cusip>
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          <isin value="US5627501092"/>
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        <balance>5274.000000</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>MANTECH INTERNATIONAL CORPORATION</name>
        <lei>5299007N03CAU4SWNR02</lei>
        <title>MANTECH INTERNATIONAL CORP A COMMON STOCK USD.01</title>
        <cusip>564563104</cusip>
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          <isin value="US5645631046"/>
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        <balance>2153.000000</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>MARCUS CORP</name>
        <lei>549300NL0OKPNEMP6B79</lei>
        <title>MARCUS CORPORATION COMMON STOCK USD1.0</title>
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        <balance>2060.000000</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>MARTEN TRANSPORT LTD</name>
        <lei>N/A</lei>
        <title>MARTEN TRANSPORT LTD COMMON STOCK USD.01</title>
        <cusip>573075108</cusip>
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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>ACACIA COMMUNICATIONS INC</name>
        <lei>549300PZLTIVLKOBPB61</lei>
        <title>ACACIA COMMUNICATIONS INC COMMON STOCK USD.0001</title>
        <cusip>00401C108</cusip>
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          <isin value="US00401C1080"/>
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        <balance>1069.000000</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>MASONITE INTERNATIONAL CORP (AKA: MASONITE INC)</name>
        <lei>549300H0H07ZFT4JYM32</lei>
        <title>MASONITE INTERNATIONAL CORP COMMON STOCK</title>
        <cusip>575385109</cusip>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MASTEC INC</name>
        <lei>549300TMDIT8WREDOF45</lei>
        <title>MASTEC INC COMMON STOCK USD.1</title>
        <cusip>576323109</cusip>
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          <isin value="US5763231090"/>
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        <balance>3945.000000</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>MATERION CORPORATION</name>
        <lei>549300CJ5RI351SUYT02</lei>
        <title>MATERION CORP COMMON STOCK</title>
        <cusip>576690101</cusip>
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        <balance>1825.000000</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>MATRIX SVC CO</name>
        <lei>529900VYBKSX6HD2YW58</lei>
        <title>MATRIX SERVICE CO COMMON STOCK USD.01</title>
        <cusip>576853105</cusip>
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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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        <name>MATSON INC (AKA: ALEXANDER &amp; BALDWIN HOLDINGS INC)</name>
        <lei>549300OI5H3Y0I9I4I12</lei>
        <title>MATSON INC COMMON STOCK</title>
        <cusip>57686G105</cusip>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>MATTHEWS INTERNATIONAL CORPORATION</name>
        <lei>549300ZVC5O0ATML6U61</lei>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>MAXLINEAR INC</name>
        <lei>549300EMOI0SM2IY4F64</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>MBIA INC</name>
        <lei>54F1KGFE2KNP3VAL3P42</lei>
        <title>MBIA INC COMMON STOCK USD1.0</title>
        <cusip>55262C100</cusip>
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        <name>MCDERMOTT INTERNATIONAL INC</name>
        <lei>ZAKWBIG8QLOPMZ888610</lei>
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        <name>MCGRATH RENTCORP</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>APERGY CORPORATION</name>
        <lei>549300EP2909K6DYYP38</lei>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>MDC HOLDINGS INC</name>
        <lei>5299005FV4VNV75R8R35</lei>
        <title>MDC HOLDINGS INC COMMON STOCK USD.01</title>
        <cusip>552676108</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>MDC PARTNERS INC</name>
        <lei>529900SR4J92B5C43M74</lei>
        <title>MDC PARTNERS INC A COMMON STOCK</title>
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        <curCd>USD</curCd>
        <valUSD>23062.880000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>MEDIA GENERAL INC</name>
        <lei>5493005Q6QE29UIIR333</lei>
        <title>MEDIA GEN INC CVR COMMON STOCK</title>
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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>3</fairValLevel>
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        <name>APOGEE ENTERPRISES INC</name>
        <lei>549300579S7QW8V4IJ60</lei>
        <title>APOGEE ENTERPRISES INC COMMON STOCK USD.333</title>
        <cusip>037598109</cusip>
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        <curCd>USD</curCd>
        <valUSD>79365.000000</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>MEDICINES COMPANY</name>
        <lei>254900Z72DIL282LFL79</lei>
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        <cusip>584688105</cusip>
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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>MEDIFAST INC</name>
        <lei>5299000YHQJ21T5KKI80</lei>
        <title>MEDIFAST INC COMMON STOCK USD.001</title>
        <cusip>58470H101</cusip>
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          <isin value="US58470H1014"/>
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        <balance>265.000000</balance>
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        <curCd>USD</curCd>
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        <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>MEDPACE HOLDINGS INC</name>
        <lei>549300H8TYEUVTW14A54</lei>
        <title>MEDPACE HOLDINGS INC COMMON STOCK USD.01</title>
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          <isin value="US58506Q1094"/>
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        <balance>1949.000000</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>APOLLO COMMERCIAL REAL ESTATE FINANCE INC</name>
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        <cusip>03762U105</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>MERCURY GENERAL CORPORATION</name>
        <lei>5493001Q9EXPCEL4W527</lei>
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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>MERCURY SYSTEMS INC</name>
        <lei>549300P3B84SGK7HH679</lei>
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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>MEREDITH CORPORATION</name>
        <lei>549300YC8BC386CCTS24</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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MERIDIAN BANCORP INC</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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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>MERIDIAN BIOSCIENCE INC</name>
        <lei>549300ELSRZEFFFRX195</lei>
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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>MERIT MEDICAL SYSTEMS INC</name>
        <lei>549300OYTY138SP2CE83</lei>
        <title>MERIT MEDICAL SYSTEMS INC COMMON STOCK</title>
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        <balance>2570.000000</balance>
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        <curCd>USD</curCd>
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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>MERITAGE HOMES CORPORATION</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MERITOR INC</name>
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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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      <invstOrSec>
        <name>ACADIA HEALTHCARE COMPANY INC</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>APPLE HOSPITALITY REIT INC</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>METHODE ELECTRS INC</name>
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        <name>MFA FINANCIAL INC</name>
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        <name>MGE ENERGY INC</name>
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        <name>MICHAELS COS INC</name>
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        <name>APPLIED INDUSTRIAL TECHNOLOGIES INC</name>
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        <name>MICROSTRATEGY INCORPORATED</name>
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        <title>MICROSTRATEGY INC CL A COMMON STOCK USD.001</title>
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        <name>MIDDLESEX WATER COMPANY</name>
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        <name>MILLER HERMAN INC</name>
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        <title>HERMAN MILLER INC COMMON STOCK USD.2</title>
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        <name>MINERALS TECHNOLOGIES INC</name>
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        <title>MINERALS TECHNOLOGIES INC COMMON STOCK USD.1</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <lei>529900IYC4GQUZJ42W95</lei>
        <title>MOBILE MINI INC COMMON STOCK USD.01</title>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>MODINE MANUFACTURING COMPANY</name>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>MOELIS &amp; COMPANY</name>
        <lei>549300891QNU7VTQUR83</lei>
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      <invstOrSec>
        <name>MONRO INC</name>
        <lei>N/A</lei>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>MOOG INC</name>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>MOVADO GROUP INC</name>
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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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        <name>ARBOR REALTY TRUST INC</name>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>MRC GLOBAL INC</name>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>MSA SAFETY INCORPORATED</name>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>MSG NETWORKS INC</name>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>MTS SYSTEMS CORPORATION</name>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>MUELLER INDUSTRIES INC</name>
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        <assetCat>EC</assetCat>
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        <name>MUELLER WATER PRODUCTS INC</name>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>MURPHY USA INC</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NATIONAL PRESTO INDS INC</name>
        <lei>N/A</lei>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NATIONAL STORAGE AFFILIATES TRUST</name>
        <lei>N/A</lei>
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          <isin value="US6378701063"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NATIONAL VISION HOLDINGS INC</name>
        <lei>549300JHURCBLI5ROA42</lei>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NATIONAL WESTERN LIFE GROUP INC</name>
        <lei>549300HPXNVHFT1BJ192</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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NATUS MEDICAL INCORPORATED</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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      <invstOrSec>
        <name>NAVIGATOR HOLDINGS LTD</name>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>MH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NAVISTAR INTERNATIONAL</name>
        <lei>WNDD3CRVXJGC8I7GX671</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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      <invstOrSec>
        <name>ARCH COAL 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>NCR CORPORATION</name>
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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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      <invstOrSec>
        <name>NEENAH INC (AKA: NEENAH PAPER INC)</name>
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        <cusip>640079109</cusip>
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          <isin value="US6400791090"/>
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        <balance>1369.000000</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>NELNET INC</name>
        <lei>549300T6B0Q52I6OM558</lei>
        <title>NELNET INC CL A COMMON STOCK USD.01</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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      <invstOrSec>
        <name>NEOGEN CORPORATION</name>
        <lei>549300HJT9FC36N4UW43</lei>
        <title>NEOGEN CORP COMMON STOCK USD.16</title>
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        <curCd>USD</curCd>
        <valUSD>75440.560000</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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      <invstOrSec>
        <name>NETGEAR INC</name>
        <lei>54930067KX3UNRHDWA78</lei>
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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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        <name>NETSCOUT SYSTEMS INC</name>
        <lei>5493005HZXZ3SPNVCV76</lei>
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        <assetCat>EC</assetCat>
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        <name>NEW JERSEY RES</name>
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        <title>NEW JERSEY RESOURCES CORP COMMON STOCK USD2.5</title>
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        <assetCat>EC</assetCat>
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        <name>NEW SENIOR INVESTMENT GROUP INC</name>
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        <assetCat>EC</assetCat>
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        <name>NEW YORK MORTGAGE TRUST INC</name>
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        <name>NEW YORK REIT LIQUIDATING LLC</name>
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        <name>NEWMARK GROUP INC</name>
        <lei>N/A</lei>
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        <assetCat>EC</assetCat>
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        <name>NEXPOINT RESIDENTIAL TRUST INC</name>
        <lei>549300U2J6XVYBF87166</lei>
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        <assetCat>EC</assetCat>
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        <name>NEXSTAR MEDIA GROUP INC</name>
        <lei>52990083ZRR5UT591988</lei>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <name>ARCHROCK INC</name>
        <lei>549300K3RIHMHDVFTL28</lei>
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        <assetCat>EC</assetCat>
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        <name>NEXTGEN HEALTHCARE INC (AKA: QUALITY SYSTEMS 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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        <name>NIC INC</name>
        <lei>529900B18T4Q37BZ0F35</lei>
        <title>NIC INC COMMON STOCK</title>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NII HOLDINGS INC</name>
        <lei>5493008M1YG2GODK3P05</lei>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ARCOSA INC</name>
        <lei>549300WFHLTCZV7D6V29</lei>
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        <cusip>039653100</cusip>
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          <isin value="US0396531008"/>
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        <balance>6816.000000</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>ARES COMMERCIAL REAL ESTATE CORPORATION</name>
        <lei>549300ZNO5IWXS443S81</lei>
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          <isin value="US04013V1089"/>
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        <curCd>USD</curCd>
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        <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>ARGAN INC</name>
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          <isin value="US04010E1091"/>
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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>ARMADA HOFFLER PROPERTIES INC</name>
        <lei>549300WQRSIV6XZT9313</lei>
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        <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>NOMAD FOODS LIMITED</name>
        <lei>5493000ZZ1837DS2SI43</lei>
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          <isin value="VGG6564A1057"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>VG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ARMOUR RESIDENTIAL REIT INC</name>
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          <isin value="US0423155078"/>
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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>ARMSTRONG FLOORING INC</name>
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        <curCd>USD</curCd>
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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>NORTHFIELD BANCORP INC</name>
        <lei>N/A</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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          <isCashCollateral>N</isCashCollateral>
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        <name>NORTHWEST BANCSHARES INC</name>
        <lei>N/A</lei>
        <title>NORTHWEST BANCSHARES INC COMMON STOCK USD.01</title>
        <cusip>667340103</cusip>
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        <curCd>USD</curCd>
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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>ARMSTRONG WORLD INDUSTRIES INC</name>
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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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      <invstOrSec>
        <name>NORTHWEST NATURAL HOLDING COMPANY</name>
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        <title>NORTHWEST NATURAL HOLDING CO COMMON STOCK</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>NORTHWESTERN CORPORATION</name>
        <lei>3BPWMBHR1R9SHUN7J795</lei>
        <title>NORTHWESTERN CORP COMMON STOCK USD.01</title>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>NOVANTA INC (AKA: GSI GROUP INC)</name>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NOW INC</name>
        <lei>549300AVH5SOCFVVDW91</lei>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>NU SKIN ENTERPRISES INC</name>
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        <assetCat>EC</assetCat>
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        <name>NUVASIVE INC</name>
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        <name>ARTISAN PARTNERS ASSET MANAGEMENT INC</name>
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        <name>O-I GLASS INC</name>
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        <name>OASIS PETROLEUM INC</name>
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        <assetCat>EC</assetCat>
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        <name>OCEANEERING INTERNATIONAL INC</name>
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        <title>OCEANEERING INTL INC COMMON STOCK USD.25</title>
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        <assetCat>EC</assetCat>
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        <name>OCWEN FINANCIAL CORPORATION</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>OFFICE PROPERTIES INCOME TRUST</name>
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        <title>OFFICE PROPERTIES INCOME TRU REIT USD.01</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>OIL STATES INTERNATIONAL INC</name>
        <lei>5493004TF4KQJGMYL777</lei>
        <title>OIL STATES INTERNATIONAL INC COMMON STOCK USD.01</title>
        <cusip>678026105</cusip>
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          <isin value="US6780261052"/>
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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 NATIONAL BANCORP</name>
        <lei>549300MMK90CL5KMVX16</lei>
        <title>OLD NATIONAL BANCORP COMMON STOCK</title>
        <cusip>680033107</cusip>
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          <isin value="US6800331075"/>
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        <curCd>USD</curCd>
        <valUSD>262827.300000</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>
        <name>OLIN CORPORATION</name>
        <lei>549300GKK294V7W57P06</lei>
        <title>OLIN CORP COMMON STOCK USD1.0</title>
        <cusip>680665205</cusip>
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          <isin value="US6806652052"/>
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        <balance>11832.000000</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>OMNICELL INC</name>
        <lei>5493008RH0GTKHHPZI77</lei>
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        <cusip>68213N109</cusip>
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        <curCd>USD</curCd>
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        <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>ONE LIBERTY PROPERTIES INC</name>
        <lei>549300QII1CQZGZBZR14</lei>
        <title>ONE LIBERTY PROPERTIES INC REIT USD1.0</title>
        <cusip>682406103</cusip>
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          <isin value="US6824061039"/>
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        <balance>779.000000</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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      <invstOrSec>
        <name>ONESPAN INC (AKA: VASCO DATA SECURITY INTERNATIO)</name>
        <lei>549300D67QDZG593UX89</lei>
        <title>ONESPAN INC COMMON STOCK USD.001</title>
        <cusip>68287N100</cusip>
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          <isin value="US68287N1000"/>
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        <balance>2009.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>34394.080000</valUSD>
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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>OPKO HEALTH INC</name>
        <lei>529900A4S2D4OGOJLL02</lei>
        <title>OPKO HEALTH INC COMMON STOCK USD.01</title>
        <cusip>68375N103</cusip>
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          <isin value="US68375N1037"/>
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        <balance>40507.000000</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>OPPENHEIMER HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>OPPENHEIMER HOLDINGS CL A COMMON STOCK USD.001</title>
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          <isin value="US6837971042"/>
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        <curCd>USD</curCd>
        <valUSD>37675.080000</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>
        <name>OPTION CARE HEALTH INC</name>
        <lei>549300DI3Q5ACSYJRI17</lei>
        <title>OPTION CARE HEALTH INC COMMON STOCK USD.0001</title>
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          <isin value="US68404L1026"/>
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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>ASBURY AUTOMOTIVE GROUP INC</name>
        <lei>549300JH4DTA7U42GL91</lei>
        <title>ASBURY AUTOMOTIVE GROUP COMMON STOCK USD.01</title>
        <cusip>043436104</cusip>
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          <isin value="US0434361046"/>
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        <balance>7431.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>830711.490000</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>
        <name>ORION ENGINEERED CARBONS SA</name>
        <lei>N/A</lei>
        <title>ORION ENGINEERED CARBONS SA COMMON STOCK</title>
        <cusip>L72967109</cusip>
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          <isin value="LU1092234845"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ORMAT TECHNOLOGIES INC</name>
        <lei>5493000TSHHWY24VHM09</lei>
        <title>ORMAT TECHNOLOGIES INC COMMON STOCK USD.001</title>
        <cusip>686688102</cusip>
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          <isin value="US6866881021"/>
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        <balance>1749.000000</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>ORTHOFIX MEDICAL INC (AKA: ORTHOFIX INTERNATIONAL NV)</name>
        <lei>N/A</lei>
        <title>ORTHOFIX MEDICAL INC COMMON STOCK USD.1</title>
        <cusip>68752M108</cusip>
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        <curCd>USD</curCd>
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        <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>OSI SYSTEMS INC</name>
        <lei>DDX3MPX1Y8YD30050X33</lei>
        <title>OSI SYSTEMS INC COMMON STOCK</title>
        <cusip>671044105</cusip>
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        <balance>2004.000000</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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      <invstOrSec>
        <name>OTTER TAIL CORPORATION</name>
        <lei>N/A</lei>
        <title>OTTER TAIL CORP COMMON STOCK USD5.0</title>
        <cusip>689648103</cusip>
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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>OUTFRONT MEDIA INC</name>
        <lei>549300RZWDYU5722I639</lei>
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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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      <invstOrSec>
        <name>OWENS &amp; MINOR INC</name>
        <lei>549300LMT5KQQXCEZ733</lei>
        <title>OWENS + MINOR INC COMMON STOCK USD2.0</title>
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        <balance>21992.000000</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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      <invstOrSec>
        <name>ASGN INC (AKA: ON ASSIGNMENT INC)</name>
        <lei>LZBNYYCBUKY537072438</lei>
        <title>ASGN INC COMMON STOCK USD.01</title>
        <cusip>00191U102</cusip>
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        <assetCat>EC</assetCat>
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        <name>OXFORD INDUSTRIES INC</name>
        <lei>IDZ20O0XD3GS4UOI2L88</lei>
        <title>OXFORD INDUSTRIES INC COMMON STOCK USD1.0</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>1</fairValLevel>
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        <name>ASHFORD HOSPITALITY TRUST INC</name>
        <lei>N/A</lei>
        <title>ASHFORD HOSPITALITY TRUST REIT USD.01</title>
        <cusip>044103109</cusip>
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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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        <name>PAPA JOHNS INTL INC</name>
        <lei>HZYLD3DK5XOX0WBVNB56</lei>
        <title>PAPA JOHN S INTL INC COMMON STOCK USD.01</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>PAR PACIFIC HOLDINGS INC (AKA: PAR PETROLEUM CORP)</name>
        <lei>549300BTNS7MHSHRLR55</lei>
        <title>PAR PACIFIC HOLDINGS INC COMMON STOCK USD.01</title>
        <cusip>69888T207</cusip>
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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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        <name>PARAMOUNT GROUP INC</name>
        <lei>5493006GJU1CFI7Z5J17</lei>
        <title>PARAMOUNT GROUP INC REIT USD.01</title>
        <cusip>69924R108</cusip>
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        <balance>34430.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>479265.600000</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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      <invstOrSec>
        <name>PARK AEROSPACE CORP</name>
        <lei>5299004AG0G7IB636095</lei>
        <title>PARK AEROSPACE CORP COMMON STOCK USD.1</title>
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        <balance>2093.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>34053.110000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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      </invstOrSec>
      <invstOrSec>
        <name>PARK NATIONAL CORPORATION</name>
        <lei>5493001T01TDELV5OO63</lei>
        <title>PARK NATIONAL CORP COMMON STOCK</title>
        <cusip>700658107</cusip>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PARTY CITY HOLDCO INC</name>
        <lei>549300BUAG9YASF5Q703</lei>
        <title>PARTY CITY HOLDCO INC COMMON STOCK USD.01</title>
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        <balance>35880.000000</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>PATTERN ENERGY GROUP INC</name>
        <lei>549300YTEUCT3H1Y2T51</lei>
        <title>PATTERN ENERGY GROUP INC  A COMMON STOCK USD.01</title>
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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>PATTERSON COS INC</name>
        <lei>YM48Q2087CUE26GWEK09</lei>
        <title>PATTERSON COS INC COMMON STOCK USD.01</title>
        <cusip>703395103</cusip>
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          <isin value="US7033951036"/>
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        <balance>25735.000000</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>PATTERSON-UTI ENERGY INC</name>
        <lei>254900XGFBKIXD6G0697</lei>
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        <cusip>703481101</cusip>
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          <isin value="US7034811015"/>
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        <balance>7931.000000</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>ACCO BRANDS CORPORATION</name>
        <lei>JCT8P4Y190IH4I1NX328</lei>
        <title>ACCO BRANDS CORP COMMON STOCK USD.01</title>
        <cusip>00081T108</cusip>
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        <curCd>USD</curCd>
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        <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>PC CONNECTION INC</name>
        <lei>5299005WPRNIXDV2KM73</lei>
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        <cusip>69318J100</cusip>
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          <isin value="US69318J1007"/>
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        <balance>485.000000</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>PDC ENERGY INC</name>
        <lei>5493008W8H2T511J5Y59</lei>
        <title>PDC ENERGY INC COMMON STOCK USD.01</title>
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        <balance>5200.000000</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>PDL BIOPHARMA INC</name>
        <lei>FE4K0NQFI4D86DSOL165</lei>
        <title>PDL BIOPHARMA INC COMMON STOCK USD.01</title>
        <cusip>69329Y104</cusip>
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        <balance>24805.000000</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>PEABODY ENERGY CORPORATION</name>
        <lei>EJCO258LNNVSKAR2JX59</lei>
        <title>PEABODY ENERGY CORP COMMON STOCK</title>
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        <balance>12394.000000</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>PEBBLEBROOK HOTEL TRUST</name>
        <lei>5493004Q1NNH6JXCSI52</lei>
        <title>PEBBLEBROOK HOTEL TRUST REIT USD.01</title>
        <cusip>70509V100</cusip>
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        <balance>9089.000000</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>PENN NATIONAL GAMING INC</name>
        <lei>N/A</lei>
        <title>PENN NATIONAL GAMING INC COMMON STOCK USD.01</title>
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        <balance>18168.000000</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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      <invstOrSec>
        <name>PENNSYLVANIA REAL ESTATE INVESTMENT TRUST</name>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PENNYMAC FINANCIAL SERVICES 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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      <invstOrSec>
        <name>PENNYMAC MORTGAGE INVESTMENT TRUST</name>
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        <cusip>70931T103</cusip>
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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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      <invstOrSec>
        <name>PEOPLES BANCORP INC</name>
        <lei>N/A</lei>
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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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        <name>PERDOCEO EDUCATION CORPORATION</name>
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        <name>PERFICIENT INC</name>
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        <name>PERFORMANCE FOOD GROUP COMPANY</name>
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        <title>PERFORMANCE FOOD GROUP CO COMMON STOCK USD.01</title>
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        <fairValLevel>1</fairValLevel>
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        <name>PERSPECTA INC</name>
        <lei>549300XIT2GJKMZC0O65</lei>
        <title>PERSPECTA INC COMMON STOCK USD.01</title>
        <cusip>715347100</cusip>
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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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        <name>PHOTRONICS INC</name>
        <lei>549300OK5JVNIBNY6F63</lei>
        <title>PHOTRONICS INC COMMON STOCK USD.01</title>
        <cusip>719405102</cusip>
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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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        <name>PHYSICIANS REALTY TRUST</name>
        <lei>549300ITOVH0OY7PZC34</lei>
        <title>PHYSICIANS REALTY TRUST REIT USD.01</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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      <invstOrSec>
        <name>PIEDMONT OFFICE REALTY TRUST INC</name>
        <lei>N/A</lei>
        <title>PIEDMONT OFFICE REALTY TRU A REIT USD.01</title>
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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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        <name>ASSERTIO THERAPEUTICS INC (AKA: DEPOMED INC)</name>
        <lei>549300L2A9NTF1JVDP20</lei>
        <title>ASSERTIO THERAPEUTICS INC COMMON STOCK</title>
        <cusip>04545L107</cusip>
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      <invstOrSec>
        <name>ASSOCIATED BANC-CORP</name>
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      <invstOrSec>
        <name>PIMCO FUNDS</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ASTEC INDS INC</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ACI WORLDWIDE INC</name>
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      <invstOrSec>
        <name>AT HOME GROUP INC</name>
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      <invstOrSec>
        <name>PIONEER FINL SVCS INC</name>
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      <invstOrSec>
        <name>PIPER JAFFRAY COMPANIES INC</name>
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      <invstOrSec>
        <name>ATKORE INTERNATIONAL GROUP INC</name>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>PLANTRONICS INC</name>
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      <invstOrSec>
        <name>ACORDA THERAPEUTICS INC</name>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>PLEXUS CORP</name>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <name>ATLANTIC POWER CORPORATION</name>
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        <assetCat>EC</assetCat>
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        <name>PNM RESOURCES INC</name>
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        <name>ATLANTIC UNION BANKSHARES CORPORATION</name>
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        <name>POLYONE CORPORATION</name>
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        <name>POTLATCHDELTIC CORPORATION</name>
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        <name>PQ GROUP HOLDINGS INC</name>
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        <name>PRA GROUP INC</name>
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        <name>PRESTIGE BRANDS HOLDINGS INC</name>
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        <assetCat>EC</assetCat>
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        <name>PRICESMART INC</name>
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        <name>PRIMORIS SERVICES CORPORATION</name>
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      <invstOrSec>
        <name>ATN INTERNATIONAL INC (AKA: ATLANTIC TELE NETWORK INC)</name>
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        <name>PROASSURANCE CORPORATION</name>
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      <invstOrSec>
        <name>PROGRESS SOFTWARE CORPORATION</name>
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        <name>PROTO LABS INC</name>
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        <assetCat>EC</assetCat>
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        <assetCat>EC</assetCat>
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        <name>R1 RCM INC</name>
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        <name>RAYONIER INC</name>
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        <name>RBC BEARINGS INCORPORATED</name>
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        <name>REALOGY HOLDINGS CORP</name>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>RED ROCK RESORTS INC</name>
        <lei>N/A</lei>
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        <name>REDWOOD TRUST INC</name>
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        <name>REGIS CORPORATION</name>
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        <name>RENASANT CORPORATION</name>
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        <name>RUTHS CHRIS STEAK HOUSE INC</name>
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      <invstOrSec>
        <name>RYERSON HOLDING CORPORATION</name>
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      <invstOrSec>
        <name>RYMAN HOSPITALITY PROPERTIES INC (AKA: GAYLORD ENTERTAINMENT CO)</name>
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      <invstOrSec>
        <name>S&amp;T BANCORP INC</name>
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        <name>SABRA HEALTH CARE REIT INC</name>
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        <name>SAFETY INSURANCE GROUP INC</name>
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        <name>SAIA INC</name>
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      <invstOrSec>
        <name>AVANOS MEDICAL INC (AKA: HALYARD HEALTH INC)</name>
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        <name>AVAYA HOLDINGS CORP</name>
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        <name>SANDERSON FARMS INC</name>
        <lei>529900KZGVFTWHUO2759</lei>
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        <assetCat>EC</assetCat>
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        <name>SANDRIDGE ENERGY INC</name>
        <lei>W1MKPVGS6I5155L7VV67</lei>
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        <assetCat>EC</assetCat>
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        <name>SANDY SPRING BANCORP INC</name>
        <lei>N/A</lei>
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        <assetCat>EC</assetCat>
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        <name>SANMINA CORPORATION</name>
        <lei>X5K24XLM8QYRXF00EB42</lei>
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        <name>SCANSOURCE INC</name>
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        <name>SCHNITZER STEEL INDS INC-A</name>
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        <assetCat>EC</assetCat>
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        <assetCat>EC</assetCat>
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        <lei>Q0IK63NITJD6RJ47SW96</lei>
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      <invstOrSec>
        <name>SEAWORLD ENTERTAINMENT INC</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SELECT MEDICAL HOLDINGS CORPORATION</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>SELECTIVE INSURANCE GROUP INC</name>
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        <name>SEMTECH CORPORATION</name>
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      <invstOrSec>
        <name>AVX CORPORATION</name>
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        <name>SHENANDOAH TELECOMMUNICATION CO</name>
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        <name>SHOE CARNIVAL INC</name>
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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>AZZ INC</name>
        <lei>549300HD1X2NFLWPYC83</lei>
        <title>AZZ INC COMMON STOCK USD1.0</title>
        <cusip>002474104</cusip>
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          <isin value="US0024741045"/>
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        <balance>2058.000000</balance>
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        <curCd>USD</curCd>
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        <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>B&amp;G FOODS INC</name>
        <lei>549300TRW1LZMDJZAQ78</lei>
        <title>B+G FOODS INC COMMON STOCK USD.01</title>
        <cusip>05508R106</cusip>
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          <isin value="US05508R1068"/>
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        <balance>9686.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>173669.980000</valUSD>
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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>SONIC AUTOMOTIVE INC</name>
        <lei>549300NTLRGJ2JCBZU03</lei>
        <title>SONIC AUTOMOTIVE INC CLASS A COMMON STOCK USD.01</title>
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          <isin value="US83545G1022"/>
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        <balance>11397.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>353307.000000</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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SOUTH JERSEY INDS INC</name>
        <lei>549300DJYWYT5VXLFA46</lei>
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          <isin value="US8385181081"/>
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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>SOUTH STATE CORP (AKA: SOUTH CAROLINA BANK AND TRUST)</name>
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          <isin value="US8404411097"/>
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        <curCd>USD</curCd>
        <valUSD>150251.000000</valUSD>
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        <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>SOUTHSIDE BANCSHARES INC</name>
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          <isin value="US84470P1093"/>
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        <balance>987.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>36657.180000</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>
        <name>SOUTHWEST GAS HOLDINGS INC</name>
        <lei>N/A</lei>
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          <isin value="US8448951025"/>
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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>SOUTHWESTERN ENERGY COMPANY</name>
        <lei>EFWMP121W54QV9MGOP87</lei>
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        <cusip>845467109</cusip>
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          <isin value="US8454671095"/>
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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>SP PLUS CORPORATION</name>
        <lei>0IDE18EMH1CUKQCUYE69</lei>
        <title>SP PLUS CORP COMMON STOCK USD.001</title>
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          <isin value="US78469C1036"/>
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        <curCd>USD</curCd>
        <valUSD>21978.740000</valUSD>
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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>
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      <invstOrSec>
        <name>SPARTANNASH COMPANY</name>
        <lei>549300TV3QCCSQLF5X16</lei>
        <title>SPARTANNASH CO COMMON STOCK</title>
        <cusip>847215100</cusip>
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          <isin value="US8472151005"/>
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        <balance>14067.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>200314.080000</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>
        <name>BADGER METER INC</name>
        <lei>5493002JENE20OGTUG20</lei>
        <title>BADGER METER INC COMMON STOCK USD1.0</title>
        <cusip>056525108</cusip>
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          <isin value="US0565251081"/>
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        <balance>1474.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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        <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>SPIRE INC</name>
        <lei>549300NXSY15DRY2R511</lei>
        <title>SPIRE INC COMMON STOCK USD1.0</title>
        <cusip>84857L101</cusip>
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        <balance>5028.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>418882.680000</valUSD>
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        <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>SPIRIT AIRLINES INC</name>
        <lei>549300DCAFIXFNFR3304</lei>
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          <isin value="US8485771021"/>
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        <balance>8738.000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SPIRIT REALTY CAPITAL INC</name>
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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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      <invstOrSec>
        <name>SPOK HOLDINGS INC</name>
        <lei>549300HXXANIVN2ICC89</lei>
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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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        <name>SPORTSMANS WAREHOUSE HOLDINGS INC</name>
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        <title>SPORTSMAN S WAREHOUSE HOLDIN COMMON STOCK USD.01</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>SPROUTS FARMERS MARKETS INC</name>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <name>SPS COMMERCE INC</name>
        <lei>2549006XVF9GCCETDQ72</lei>
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        <assetCat>EC</assetCat>
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        <name>SPX FLOW INC</name>
        <lei>5493003YXEKRBINIEM78</lei>
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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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        <name>ST JOE CO/THE</name>
        <lei>529900XVHOT3BF8PWG49</lei>
        <title>ST JOE CO/THE COMMON STOCK</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <name>STAG INDUSTRIAL INC</name>
        <lei>549300QWYX2W6FASVQ07</lei>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <name>STAMPSCOM INC</name>
        <lei>5299008VAXLEGU4Y4038</lei>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <name>STANDARD MTR PRODS INC</name>
        <lei>THGK1EO5B5HK0JHQVZ90</lei>
        <title>STANDARD MOTOR PRODS COMMON STOCK USD2.0</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>STANDEX INTL CORP</name>
        <lei>RCX52GR0JW2LRRMH9Z54</lei>
        <title>STANDEX INTERNATIONAL CORP COMMON STOCK USD1.5</title>
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      <invstOrSec>
        <name>STEELCASE INC</name>
        <lei>GIE4CCPBJDI8SMV1OX95</lei>
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      <invstOrSec>
        <name>STEPAN COMPANY</name>
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      <invstOrSec>
        <name>STERICYCLE INC</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>STERLING BANCORP</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>STEVEN MADDEN LTD</name>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>STEWART INFORMATION SERVICES</name>
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        <name>BALCHEM CORPORATION</name>
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        <assetCat>EC</assetCat>
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        <name>ACUSHNET HOLDINGS CORP</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>STOCK YARDS BANCORP INC</name>
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        <assetCat>EC</assetCat>
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        <name>STONERIDGE INC</name>
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        <name>STRATASYS LTD</name>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>SYNAPTICS INCORPORATED</name>
        <lei>549300AJ3LI4FWNRQX29</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SYNCHRONOSS TECHNOLOGIES INC</name>
        <lei>5493007Z5J8Z2TA76376</lei>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SYNCOR INTL CORP</name>
        <lei>N/A</lei>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SYNEOS HEALTH INC (AKA INC RESEARCH HOLDINGS INC)</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TAILORED BRANDS INC</name>
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      <invstOrSec>
        <name>TANGER FACTORY OUTLET CENTERS INC</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TAUBMAN CTRS INC</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TAYLOR MORRISON HOMES CORPORATION</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>TCF FINANCIAL CORPORATION</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TECH DATA CORPORATION</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TEGNA INC</name>
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        <name>TEMPUR SEALY INTERNATIONAL INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>TENNANT COMPANY</name>
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        <name>TENNECO INC</name>
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        <name>TEREX CORPORATION</name>
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        <name>TERRENO REALTY CORPORATION</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TIDEWATER INC</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>TIMKEN COMPANY</name>
        <lei>B0I35MLPFXZSE70ASS73</lei>
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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>BANCORPSOUTH BANK</name>
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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>TITAN MACHINERY INC</name>
        <lei>549300835ZM8G0BT5C94</lei>
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        <cusip>88830R101</cusip>
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          <isin value="US88830R1014"/>
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        <balance>1276.000000</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>TIVITY HEALTH INC</name>
        <lei>U5UKZMHGMOP0CPFG4B24</lei>
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          <isin value="US88870R1023"/>
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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>TIVO CORP (AKA: TITAN TECHNOLOGIES CORP)</name>
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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>TOM BROWN INC</name>
        <lei>N/A</lei>
        <title>TRUEBLUE INC COMMON STOCK</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>TOMPKINS FINANCIAL CORPORATION</name>
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        <curCd>USD</curCd>
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        <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>TOPBUILD CORP</name>
        <lei>5493007YSKHOL4RWII46</lei>
        <title>TOPBUILD CORP COMMON STOCK</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TOWNE BANK</name>
        <lei>54930039UO39UJGI7078</lei>
        <title>TOWNE BANK COMMON STOCK USD1.667</title>
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        <balance>3451.000000</balance>
        <units>NS</units>
        <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>TPG RE FINANCE TRUST INC</name>
        <lei>N/A</lei>
        <title>TPG RE FINANCE TRUST INC REIT USD.001</title>
        <cusip>87266M107</cusip>
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          <isin value="US87266M1071"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>121883.510000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>TREEHOUSE FOODS INC</name>
        <lei>5493007M7EVHE470Q576</lei>
        <title>TREEHOUSE FOODS INC COMMON STOCK USD.01</title>
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          <isin value="US89469A1043"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>340276.000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>TREX COMPANY INC</name>
        <lei>N/A</lei>
        <title>TREX COMPANY INC COMMON STOCK USD.01</title>
        <cusip>89531P105</cusip>
        <identifiers>
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        <curCd>USD</curCd>
        <valUSD>74870.040000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>TRI POINTE GROUP INC</name>
        <lei>N/A</lei>
        <title>TRI POINTE GROUP INC COMMON STOCK USD.01</title>
        <cusip>87265H109</cusip>
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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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      <invstOrSec>
        <name>TRIBUNE PUBLISHING CO (AKA: TRONC INC)</name>
        <lei>549300OYS3J30M2N5272</lei>
        <title>TRIBUNE PUBLISHING CO COMMON STOCK USD.01</title>
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          <isin value="US89609W1071"/>
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        <curCd>USD</curCd>
        <valUSD>33518.520000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TRICO BANCSHARES</name>
        <lei>N/A</lei>
        <title>TRICO BANCSHARES COMMON STOCK</title>
        <cusip>896095106</cusip>
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        <balance>872.000000</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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      <invstOrSec>
        <name>TRIGON HEALTHCARE INC</name>
        <lei>529900OHEYRATAFMIT89</lei>
        <title>TEXTAINER GROUP HOLDINGS LTD COMMON STOCK USD.01</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

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      <invstOrSec>
        <name>TRIMAS CORPORATION</name>
        <lei>75G1WUQ8QK4P5MZOYD78</lei>
        <title>TRIMAS CORP COMMON STOCK USD.01</title>
        <cusip>896215209</cusip>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>TRINET GROUP INC</name>
        <lei>5299003FJVBETSFKE990</lei>
        <title>TRINET GROUP INC COMMON STOCK USD.000025</title>
        <cusip>896288107</cusip>
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        <balance>636.000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <name>TRINITY INDS INC</name>
        <lei>R1JB4KXN77XFCXOQKV49</lei>
        <title>TRINITY INDUSTRIES INC COMMON STOCK USD.01</title>
        <cusip>896522109</cusip>
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          <isin value="US8965221091"/>
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        <curCd>USD</curCd>
        <valUSD>467675.100000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>TRINSEO SA</name>
        <lei>222100SZ6J5ZF05ZTR58</lei>
        <title>TRINSEO SA COMMON STOCK USD.01</title>
        <cusip>L9340P101</cusip>
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        <balance>4376.000000</balance>
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        <curCd>USD</curCd>
        <valUSD>162830.960000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TRIUMPH GROUP INC</name>
        <lei>5493007L6S47Q14SL582</lei>
        <title>TRIUMPH GROUP INC COMMON STOCK USD.001</title>
        <cusip>896818101</cusip>
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        <balance>9268.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>234202.360000</valUSD>
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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>TRONOX HOLDINGS PLC</name>
        <lei>549300NRVC84SGJSXV06</lei>
        <title>TRONOX HOLDINGS PLC  A COMMON STOCK USD.01</title>
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        <curCd>USD</curCd>
        <valUSD>68599.940000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TRUSTCO BANK CORP NY</name>
        <lei>N/A</lei>
        <title>TRUSTCO BANK CORP NY COMMON STOCK USD1.0</title>
        <cusip>898349105</cusip>
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      <invstOrSec>
        <name>TRUSTMARK CORPORATION</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>TTM TECHNOLOGIES INC</name>
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        <assetCat>EC</assetCat>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>TWO HARBORS INVESTMENT CORP</name>
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        <name>UMPQUA HOLDINGS CORPORATION</name>
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        <name>UNIFIRST CORPORATION</name>
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        <name>UNISYS CORPORATION</name>
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        <name>UNIT CORPORATION</name>
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        <name>UNIVEST FINANCIAL CORP (AKA: UNIVEST CORP OF PENNSYLVANIA)</name>
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      <invstOrSec>
        <name>URBAN EDGE PROPERTIES</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>URSTADT BIDDLE - CLASS A</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>US PHYSICAL THERAPY INC</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>US SILICA HOLDINGS INC</name>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>USANA HEALTH SCIENCES INC</name>
        <lei>549300YTURXE814MAH96</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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      <invstOrSec>
        <name>VALLEY NATL BANCORP</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
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      <invstOrSec>
        <name>VALVOLINE INC</name>
        <lei>549300CMHPBEY6VPOT75</lei>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>VAREX IMAGING CORPORATION</name>
        <lei>549300CWYWPVCT8E9W67</lei>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>VECTOR GROUP LTD</name>
        <lei>549300TUIF4WWN6NDN50</lei>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>VEECO INSTRUMENTS INC</name>
        <lei>5493004201F72ADDZW04</lei>
        <title>VEECO INSTRUMENTS INC COMMON STOCK USD.01</title>
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        <valUSD>23672.220000</valUSD>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>VENATOR MATERIALS PLC</name>
        <lei>549300WFXC4YL5IHX316</lei>
        <title>VENATOR MATERIALS PLC COMMON STOCK</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>VERA BRADLEY INC</name>
        <lei>52990005Q6LEJKXO7M51</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>VERITIV CORPORATION</name>
        <lei>529900VQARHWQROHAS58</lei>
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        <assetCat>EC</assetCat>
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        <name>VIAD CORP</name>
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        <name>VIRTUSA CORPORATION</name>
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        <assetCat>EC</assetCat>
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        <name>VISHAY INTERTECHNOLOGY INC</name>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
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        <lei>549300QI2D33ESTJLN81</lei>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>VONAGE HOLDINGS CORP</name>
        <lei>529900W7N0N4WLN1JY21</lei>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>W&amp;T OFFSHORE INC</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>WABASH NATIONAL CORPORATION</name>
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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>WADDELL &amp; REED FINANCIAL INC</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>WALKER &amp; DUNLOP INC</name>
        <lei>N/A</lei>
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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>WARRIOR MET COAL INC</name>
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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>WASHINGTON FEDERAL INC</name>
        <lei>N/A</lei>
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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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      <invstOrSec>
        <name>WASHINGTON PRIME GROUP INC (WP GLIMCHER INC)</name>
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        <balance>141576.000000</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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      <invstOrSec>
        <name>WASHINGTON REAL ESTATE INVT TR</name>
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        <title>WASHINGTON REIT REIT USD.01</title>
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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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      <invstOrSec>
        <name>WASHINGTON TRUST BANCORP</name>
        <lei>J66MZFCNJPP3PERHZW54</lei>
        <title>WASHINGTON TRUST BANCORP COMMON STOCK USD.0625</title>
        <cusip>940610108</cusip>
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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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      <invstOrSec>
        <name>WATERSTONE FINANCIAL INC</name>
        <lei>5493002KM21XRC2DCQ02</lei>
        <title>WATERSTONE FINANCIAL INC COMMON STOCK USD.01</title>
        <cusip>94188P101</cusip>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>WATTS WATER TECHNOLOGIES INC</name>
        <lei>549300REJOO94ERQN318</lei>
        <title>WATTS WATER TECHNOLOGIES A COMMON STOCK USD.1</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>WD-40 COMPANY</name>
        <lei>549300UZHTN0CNKBOB19</lei>
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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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        <name>WEINGARTEN RLTY INVS</name>
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        <title>WEINGARTEN REALTY INVESTORS REIT USD.03</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <name>WEIS MKTS INC</name>
        <lei>N/A</lei>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>WELBILT INC (AKA: MANITOWOC FOODSERVICE INC)</name>
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        <assetCat>EC</assetCat>
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        <name>A SCHULMAN INC</name>
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        <assetCat>EC</assetCat>
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        <name>BANK OF HAWAII CORPORATION</name>
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        <assetCat>EC</assetCat>
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        <name>WERNER ENTERPRISES INC</name>
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        <assetCat>EC</assetCat>
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        <name>WESBANCO INC</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>WESCO AIRCRAFT HOLDINGS INC</name>
        <lei>529900P5VTXZS191P208</lei>
        <title>WESCO AIRCRAFT HOLDINGS INC COMMON STOCK USD.001</title>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>WESCO INTERNATIONAL INC</name>
        <lei>529900TXOGREY3WNJ434</lei>
        <title>WESCO INTERNATIONAL INC COMMON STOCK USD.01</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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        <name>WESTAMERICA BANCORPORATION</name>
        <lei>N/A</lei>
        <title>WESTAMERICA BANCORPORATION COMMON STOCK</title>
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        <curCd>USD</curCd>
        <valUSD>132287.040000</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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        <name>WESTERN ASSET MORTGAGE CAPITAL CORPORATION</name>
        <lei>549300JOQRROR5SZYY83</lei>
        <title>WESTERN ASSET MORTGAGE CAPIT REIT USD.01</title>
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      <invstOrSec>
        <name>WHITE MOUNTAINS INSURANCE GROUP LTD</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>WHITESTONE REIT</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>WHITING PETROLEUM CORPORATION</name>
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      <invstOrSec>
        <name>WIDEOPENWEST INC</name>
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      <invstOrSec>
        <name>WILLIAM LYON HOMES</name>
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      <invstOrSec>
        <name>WINGSTOP INC</name>
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      <invstOrSec>
        <name>WINTRUST FINANCIAL CORPORATION</name>
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      <invstOrSec>
        <name>WOLVERINE WORLD WIDE INC</name>
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      <invstOrSec>
        <name>WORLD ACCEPTANCE CORPORATION</name>
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        <assetCat>EC</assetCat>
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        <name>WORLD FUEL SERVICES CORPORATION</name>
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        <name>WW INTERNATIONAL INC</name>
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        <name>ZOVIO INC</name>
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        <name>ZUMIEZ INC</name>
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        <name>BARNES &amp; NOBLE EDUCATION INC</name>
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        <name>BEACON ROOFING SUPPLY INC</name>
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        <name>BEAZER HOMES USA INC</name>
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        <name>BELDEN INC</name>
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        <name>BERKSHIRE HILLS BANCORP INC</name>
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        <name>ADS WASTE HOLDINGS INC</name>
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        <name>ADTALEM GLOBAL EDUCATION INC (DEVRY EDUCATION GROUP INC)</name>
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        <name>BIG LOTS INC</name>
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        <name>ADTRAN INC</name>
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      <invstOrSec>
        <name>BOSTON PRIVATE FINANCIAL HOLDINGS INC</name>
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      <invstOrSec>
        <name>BOTTOMLINE TECHNOLOGIES INC</name>
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      <invstOrSec>
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        <name>BRADY CORPORATION</name>
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        <name>BRAEMAR HOTELS &amp; RESORTS INC (AKA: ASHFORD HOSPITALITY PRIME INC)</name>
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        <name>BRINK'S CO/THE</name>
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        <cusip>129500104</cusip>
        <identifiers>
          <isin value="US1295001044"/>
        </identifiers>
        <balance>9028.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>214415.000000</valUSD>
        <pctVal>0.1209270</pctVal>
        <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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA RESOURCES CORPORATION</name>
        <lei>5493003Q8F0T4F4YMR48</lei>
        <title>CALIFORNIA RESOURCES CORP COMMON STOCK USD.01</title>
        <cusip>13057Q206</cusip>
        <identifiers>
          <isin value="US13057Q2066"/>
        </identifiers>
        <balance>2736.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24706.080000</valUSD>
        <pctVal>0.0139339</pctVal>
        <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>
          <loanByFundCondition isLoanByFund="Y" loanVal="24381.000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA WATER SERVICE GROUP</name>
        <lei>529900QABDOBU6UVRQ36</lei>
        <title>CALIFORNIA WATER SERVICE GRP COMMON STOCK USD.01</title>
        <cusip>130788102</cusip>
        <identifiers>
          <isin value="US1307881029"/>
        </identifiers>
        <balance>3550.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>183038.000000</valUSD>
        <pctVal>0.1032308</pctVal>
        <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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CALIX INC</name>
        <lei>5299002RQRZ4SXSCSJ58</lei>
        <title>CALIX INC COMMON STOCK</title>
        <cusip>13100M509</cusip>
        <identifiers>
          <isin value="US13100M5094"/>
        </identifiers>
        <balance>2552.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20416.000000</valUSD>
        <pctVal>0.0115143</pctVal>
        <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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CALLAWAY GOLF COMPANY</name>
        <lei>5493005UB0KFRKBPCU72</lei>
        <title>CALLAWAY GOLF COMPANY COMMON STOCK USD.01</title>
        <cusip>131193104</cusip>
        <identifiers>
          <isin value="US1311931042"/>
        </identifiers>
        <balance>4165.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>88298.000000</valUSD>
        <pctVal>0.0497988</pctVal>
        <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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CALLON PETROLEUM COMPANY</name>
        <lei>549300EFOWPEB0WLZW21</lei>
        <title>CALLON PETROLEUM CO COMMON STOCK USD.01</title>
        <cusip>13123X102</cusip>
        <identifiers>
          <isin value="US13123X1028"/>
        </identifiers>
        <balance>6143.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>29670.690000</valUSD>
        <pctVal>0.0167338</pctVal>
        <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>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="A negative balance, which may be due to such circumstances as a net overdraft as of the reporting period-end, is reported as $0 in Item B.2.f - Cash and cash equivalents not reported in Parts C and D.  This is done in order to conform to the technical constraints of the XML type, which do not allow negative values in B.2.f." noteItem="B.2.f"/>
      <explntrNote note="Total returns do not deduct sales loads and redemption fees." noteItem="B.5.a"/>
      <explntrNote note="The form requires the filer to report ISO country codes and certain supranational entities are not on the ISO country code list.  Instruments issued by or economic exposure to a supranational entity may be disclosed as N/A." noteItem="C.5.a"/>

      <explntrNote note="To the extent an instrument's maturity date, termination date, expiration date, or settlement date does not exist or is not available as of period end, and is required for reporting, the registrant will disclose 12/31/2500." noteItem="C.11.c.vi"/>
      <explntrNote note="To the extent an instrument's maturity date, termination date, expiration date, or settlement date does not exist or is not available as of period end, and is required for reporting, the registrant will disclose 12/31/2500." noteItem="C.11.d.iii"/>
      <explntrNote note="To the extent an instrument's maturity date, termination date, expiration date, or settlement date does not exist or is not available as of period end, and is required for reporting, the registrant will disclose 12/31/2500." noteItem="C.11.e.iii"/>
      <explntrNote note="To the extent an instrument's maturity date, termination date, expiration date, or settlement date does not exist or is not available as of period end, and is required for reporting, the registrant will disclose 12/31/2500." noteItem="C.11.f.ii"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2020-02-10</ncom:dateSigned>
      <ncom:nameOfApplicant>PIMCO Equity Series</ncom:nameOfApplicant>
      <ncom:signature>/s/ Jason Nagler</ncom:signature>
      <ncom:signerName>Jason Nagler</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
