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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>GOLD 100 OZ FUTR  Dec25</title>
        <cusip>N/A</cusip>
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          <ticker value="GCZ5"/>
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              <counterpartyName>Commodity Exchange, Inc.</counterpartyName>
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            <payOffProf>Long</payOffProf>
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        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="USER DEFINED" value="HUFUSD121725"/>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>STONEX FINANCIAL INC.</counterpartyName>
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        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="USER DEFINED" value="IDRUSD101525"/>
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        <balance>1.000000000000</balance>
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        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="USER DEFINED" value="ILSUSD121725"/>
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              <counterpartyName>STONEX FINANCIAL INC.</counterpartyName>
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        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="USER DEFINED" value="INRUSD121725"/>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>STONEX FINANCIAL INC.</counterpartyName>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>JPN 10Y BOND(OSE) Dec25</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="JBZ5"/>
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        <assetCat>DIR</assetCat>
        <issuerConditional desc="Exchange" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>Osaka Exchange</counterpartyName>
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            <payOffProf>Short</payOffProf>
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              <otherRefInst>
                <issuerName>Japanese 10 Year Government Bonds</issuerName>
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                  <cusip value="N/A"/>
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            <expDate>2025-12-15</expDate>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>JPN YEN CURR FUT  Dec25</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="JYZ5"/>
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        <balance>-14.000000000000</balance>
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              <counterpartyName>Chicago Mercantile Exchange</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>Japanese Yen/US Dollar Cross Currency Rate</issuerName>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="USER DEFINED" value="KRWUSD121725"/>
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              <counterpartyName>STONEX FINANCIAL INC.</counterpartyName>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <ticker value="LCZ5"/>
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        <name>N/A</name>
        <lei>N/A</lei>
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                <issuerName>Lean Hogs</issuerName>
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        <name>N/A</name>
        <lei>N/A</lei>
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                <issuerName>London Metals - Lead</issuerName>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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            <payOffProf>Short</payOffProf>
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                <issuerName>London Metals - Nickel</issuerName>
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            <unrealizedAppr>-309.990000000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME TIN FUTURE    Dec25</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H26D1300"/>
          <ticker value="LTZ5"/>
        </identifiers>
        <balance>2.000000000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>7782.920000000000</valUSD>
        <pctVal>0.0351702889</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Exchange" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>London Metal Exchange</counterpartyName>
              <counterpartyLei>213800NB8G5VRT1DXC91</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>London Metals - Tin</issuerName>
                <issueTitle>London Metals - Tin</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <other otherDesc="USER DEFINED" value="LT_Comdty"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2025-12-15</expDate>
            <notionalAmt>347217.080000000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>7782.920000000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME ZINC FUTURE   Dec25</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H24H4351"/>
          <ticker value="LXZ5"/>
        </identifiers>
        <balance>-7.000000000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-36090.530000000000</valUSD>
        <pctVal>-0.1630897360</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Exchange" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>London Metal Exchange</counterpartyName>
              <counterpartyLei>213800NB8G5VRT1DXC91</counterpartyLei>
            </counterparties>
            <counterparties>
              <counterpartyName>London Metal Exchange</counterpartyName>
              <counterpartyLei>213800NB8G5VRT1DXC91</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>London Metals - Zinc</issuerName>
                <issueTitle>London Metals - Zinc</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <other otherDesc="USER DEFINED" value="LX_Comdty"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2025-12-15</expDate>
            <notionalAmt>-483508.970000000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-36090.530000000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>LME ZINC FUTURE   Dec25</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00H24H4351"/>
          <ticker value="LXZ5"/>
        </identifiers>
        <balance>5.000000000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-1462.700000000000</valUSD>
        <pctVal>-0.0066098048</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Exchange" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>London Metal Exchange</counterpartyName>
              <counterpartyLei>213800NB8G5VRT1DXC91</counterpartyLei>
            </counterparties>
            <counterparties>
              <counterpartyName>London Metal Exchange</counterpartyName>
              <counterpartyLei>213800NB8G5VRT1DXC91</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>London Metals - Zinc</issuerName>
                <issueTitle>London Metals - Zinc</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <other otherDesc="USER DEFINED" value="LX_Comdty"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2025-12-15</expDate>
            <notionalAmt>372605.200000000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-1462.700000000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASML Holding NV</name>
        <lei>724500Y6DUVHQD6OXN27</lei>
        <title>ASML Holding NV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="USN070592100"/>
          <ticker value="ASML"/>
        </identifiers>
        <balance>195.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>188777.550000000000</valUSD>
        <pctVal>0.8530681258</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>IODEX IO FUT      Oct25</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="SGXDB0712511"/>
          <ticker value="SCOV5"/>
        </identifiers>
        <balance>53.000000000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>10335.000000000000</valUSD>
        <pctVal>0.0467029002</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Exchange" issuerCat="OTHER"/>
        <invCountry>SG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Singapore Exchange (was SIMEX)</counterpartyName>
              <counterpartyLei>549300IQ650PPXM76X03</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>SGX TSI Iron Ore</issuerName>
                <issueTitle>SGX TSI Iron Ore</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <other otherDesc="USER DEFINED" value="SCO_Comdty"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2025-10-31</expDate>
            <notionalAmt>539275.000000000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>10335.000000000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>ICE 3MTH SONIA FU Dec27</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00JPF7G599"/>
          <ticker value="SFIZ7"/>
        </identifiers>
        <balance>6.000000000000</balance>
        <units>NC</units>
        <currencyConditional curCd="GBP" exchangeRt=".742800000000"/>
        <valUSD>482.120000000000</valUSD>
        <pctVal>0.0021786553</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Exchange" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>ICE Futures Europe Financials</counterpartyName>
              <counterpartyLei>549300UF4R84F48NCH34</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>ICE 3 Month SONIA Rate</issuerName>
                <issueTitle>ICE 3 Month SONIA Rate</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <other otherDesc="USER DEFINED" value="SFI_Comdty"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2028-03-14</expDate>
            <notionalAmt>1443916.880000000000</notionalAmt>
            <curCd>GBP</curCd>
            <unrealizedAppr>482.120000000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>US 2YR NOTE (CBT) Dec25</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="TUZ5"/>
        </identifiers>
        <balance>-24.000000000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>3849.410000000000</valUSD>
        <pctVal>0.0173951244</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Exchange" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Chicago Board of Trade</counterpartyName>
              <counterpartyLei>549300EX04Q2QBFQTQ27</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>U.S. Treasury 2 Year Notes</issuerName>
                <issueTitle>U.S. Treasury 2 Year Notes</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <other otherDesc="USER DEFINED" value="TU_Comdty"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2025-12-31</expDate>
            <notionalAmt>-5005411.920000000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>3849.410000000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>US LONG BOND(CBT) Dec25</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="USZ5"/>
        </identifiers>
        <balance>-7.000000000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-16652.230000000000</valUSD>
        <pctVal>-0.0752498729</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Exchange" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Chicago Board of Trade</counterpartyName>
              <counterpartyLei>549300EX04Q2QBFQTQ27</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>U.S. Treasury Long Bonds</issuerName>
                <issueTitle>U.S. Treasury Long Bonds</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <other otherDesc="USER DEFINED" value="US_Comdty"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2025-12-19</expDate>
            <notionalAmt>-799504.020000000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-16652.230000000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Automatic Data Processing Inc</name>
        <lei>HGBOLILQXWER4SAL2I23</lei>
        <title>Automatic Data Processing Inc</title>
        <cusip>053015103</cusip>
        <identifiers>
          <isin value="US0530151036"/>
          <ticker value="ADP"/>
        </identifiers>
        <balance>1423.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>417650.500000000000</valUSD>
        <pctVal>1.8873236213</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>BHP Group Ltd</name>
        <lei>WZE1WSENV6JSZFK0JC28</lei>
        <title>BHP Group Ltd</title>
        <cusip>088606108</cusip>
        <identifiers>
          <isin value="US0886061086"/>
          <ticker value="BHP"/>
        </identifiers>
        <balance>2893.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>161284.750000000000</valUSD>
        <pctVal>0.7288307291</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Canadian Pacific Kansas City L</name>
        <lei>N/A</lei>
        <title>Canadian Pacific Kansas City Ltd</title>
        <cusip>13646K108</cusip>
        <identifiers>
          <isin value="CA13646K1084"/>
          <ticker value="CP"/>
        </identifiers>
        <balance>-90.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-6704.100000000000</valUSD>
        <pctVal>-0.0302952021</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cheniere Energy Inc</name>
        <lei>MIHC87W9WTYSYZWV1J40</lei>
        <title>Cheniere Energy Inc</title>
        <cusip>16411R208</cusip>
        <identifiers>
          <isin value="US16411R2085"/>
          <ticker value="LNG"/>
        </identifiers>
        <balance>1570.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>368918.600000000000</valUSD>
        <pctVal>1.6671087144</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Cisco Systems Inc</name>
        <lei>549300LKFJ962MZ46593</lei>
        <title>Cisco Systems Inc</title>
        <cusip>17275R102</cusip>
        <identifiers>
          <isin value="US17275R1023"/>
          <ticker value="CSCO"/>
        </identifiers>
        <balance>5843.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>399778.060000000000</valUSD>
        <pctVal>1.8065597334</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Conagra Brands Inc</name>
        <lei>54930035UDEIH090K650</lei>
        <title>Conagra Brands Inc</title>
        <cusip>205887102</cusip>
        <identifiers>
          <isin value="US2058871029"/>
          <ticker value="CAG"/>
        </identifiers>
        <balance>-9637.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-176453.470000000000</valUSD>
        <pctVal>-0.7973767588</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Constellation Brands Inc</name>
        <lei>5493005GKEG8QCVY7037</lei>
        <title>Constellation Brands Inc</title>
        <cusip>21036P108</cusip>
        <identifiers>
          <isin value="US21036P1084"/>
          <ticker value="STZ"/>
        </identifiers>
        <balance>-1259.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-169549.530000000000</valUSD>
        <pctVal>-0.7661784984</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Corteva Inc</name>
        <lei>549300WZN9I2QKLS0O94</lei>
        <title>Corteva Inc</title>
        <cusip>22052L104</cusip>
        <identifiers>
          <isin value="US22052L1044"/>
          <ticker value="CTVA"/>
        </identifiers>
        <balance>4503.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>304537.890000000000</valUSD>
        <pctVal>1.3761782959</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>DR Horton Inc</name>
        <lei>529900ZIUEYVSB8QDD25</lei>
        <title>DR Horton Inc</title>
        <cusip>23331A109</cusip>
        <identifiers>
          <isin value="US23331A1097"/>
          <ticker value="DHI"/>
        </identifiers>
        <balance>628.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>106427.160000000000</valUSD>
        <pctVal>0.4809344009</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>Deere &amp; Co</name>
        <lei>PWFTNG3EI0Y73OXWDH08</lei>
        <title>Deere &amp; Co</title>
        <cusip>244199105</cusip>
        <identifiers>
          <isin value="US2441991054"/>
          <ticker value="DE"/>
        </identifiers>
        <balance>646.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>295389.960000000000</valUSD>
        <pctVal>1.3348396542</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>Dow Inc</name>
        <lei>5493003S21INSLK2IP73</lei>
        <title>Dow Inc</title>
        <cusip>260557103</cusip>
        <identifiers>
          <isin value="US2605571031"/>
          <ticker value="DOW"/>
        </identifiers>
        <balance>-5015.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-114993.950000000000</valUSD>
        <pctVal>-0.5196469252</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Edwards Lifesciences Corp</name>
        <lei>YA13X31F3V31L8TMPR58</lei>
        <title>Edwards Lifesciences Corp</title>
        <cusip>28176E108</cusip>
        <identifiers>
          <isin value="US28176E1082"/>
          <ticker value="EW"/>
        </identifiers>
        <balance>3238.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>251819.260000000000</valUSD>
        <pctVal>1.1379477283</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>Electronic Arts Inc</name>
        <lei>549300O7A67PUEYKDL45</lei>
        <title>Electronic Arts Inc</title>
        <cusip>285512109</cusip>
        <identifiers>
          <isin value="US2855121099"/>
          <ticker value="EA"/>
        </identifiers>
        <balance>1081.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>218037.700000000000</valUSD>
        <pctVal>0.9852920122</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>Equinor ASA</name>
        <lei>OW6OFBNCKXC4US5C7523</lei>
        <title>Equinor ASA</title>
        <cusip>29446M102</cusip>
        <identifiers>
          <isin value="US29446M1027"/>
          <ticker value="EQNR"/>
        </identifiers>
        <balance>6072.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>148035.360000000000</valUSD>
        <pctVal>0.6689579726</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kraft Heinz Co/The</name>
        <lei>9845007488EC87F5AF14</lei>
        <title>Kraft Heinz Co/The</title>
        <cusip>500754106</cusip>
        <identifiers>
          <isin value="US5007541064"/>
          <ticker value="KHC"/>
        </identifiers>
        <balance>-6902.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-179728.080000000000</valUSD>
        <pctVal>-0.8121744157</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Li Auto Inc</name>
        <lei>2549003R73Q70J5H4I65</lei>
        <title>Li Auto Inc</title>
        <cusip>50202M102</cusip>
        <identifiers>
          <isin value="US50202M1027"/>
          <ticker value="LI"/>
        </identifiers>
        <balance>2253.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>57091.020000000000</valUSD>
        <pctVal>0.2579889899</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Martin Marietta Materials Inc</name>
        <lei>5299005MZ4WZECVATV08</lei>
        <title>Martin Marietta Materials Inc</title>
        <cusip>573284106</cusip>
        <identifiers>
          <isin value="US5732841060"/>
          <ticker value="MLM"/>
        </identifiers>
        <balance>372.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>234464.160000000000</valUSD>
        <pctVal>1.0595216515</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>Merck &amp; Co Inc</name>
        <lei>4YV9Y5M8S0BRK1RP0397</lei>
        <title>Merck &amp; Co Inc</title>
        <cusip>58933Y105</cusip>
        <identifiers>
          <isin value="US58933Y1055"/>
          <ticker value="MRK"/>
        </identifiers>
        <balance>-2517.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-211251.810000000000</valUSD>
        <pctVal>-0.9546272088</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Microchip Technology Inc</name>
        <lei>5493007PTFULNYZJ1R12</lei>
        <title>Microchip Technology Inc</title>
        <cusip>595017104</cusip>
        <identifiers>
          <isin value="US5950171042"/>
          <ticker value="MCHP"/>
        </identifiers>
        <balance>505.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>32431.100000000000</valUSD>
        <pctVal>0.1465531134</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>Micron Technology Inc</name>
        <lei>B3DXGBC8GAIYWI2Z0172</lei>
        <title>Micron Technology Inc</title>
        <cusip>595112103</cusip>
        <identifiers>
          <isin value="US5951121038"/>
          <ticker value="MU"/>
        </identifiers>
        <balance>1245.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>208313.400000000000</valUSD>
        <pctVal>0.9413488083</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>Newmont Corp</name>
        <lei>549300VSP3RIX7FGDZ51</lei>
        <title>Newmont Corp</title>
        <cusip>651639106</cusip>
        <identifiers>
          <isin value="US6516391066"/>
          <ticker value="NEM"/>
        </identifiers>
        <balance>3124.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>263384.440000000000</valUSD>
        <pctVal>1.1902096971</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>NextEra Energy Inc</name>
        <lei>254900RHL9MEUS5NKX63</lei>
        <title>NextEra Energy Inc</title>
        <cusip>65339F101</cusip>
        <identifiers>
          <isin value="US65339F1012"/>
          <ticker value="NEE"/>
        </identifiers>
        <balance>715.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>53975.350000000000</valUSD>
        <pctVal>0.2439095680</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>Northrop Grumman Corp</name>
        <lei>RIMU48P07456QXSO0R61</lei>
        <title>Northrop Grumman Corp</title>
        <cusip>666807102</cusip>
        <identifiers>
          <isin value="US6668071029"/>
          <ticker value="NOC"/>
        </identifiers>
        <balance>541.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>329642.120000000000</valUSD>
        <pctVal>1.4896219678</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>Nucor Corp</name>
        <lei>549300GGJCRSI2TIEJ46</lei>
        <title>Nucor Corp</title>
        <cusip>670346105</cusip>
        <identifiers>
          <isin value="US6703461052"/>
          <ticker value="NUE"/>
        </identifiers>
        <balance>642.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>86946.060000000000</valUSD>
        <pctVal>0.3929011286</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>NVIDIA Corp</name>
        <lei>549300S4KLFTLO7GSQ80</lei>
        <title>NVIDIA Corp</title>
        <cusip>67066G104</cusip>
        <identifiers>
          <isin value="US67066G1040"/>
          <ticker value="NVDA"/>
        </identifiers>
        <balance>1794.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>334724.520000000000</valUSD>
        <pctVal>1.5125888589</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>Nutrien Ltd</name>
        <lei>5493002QQ7GD21OWF963</lei>
        <title>Nutrien Ltd</title>
        <cusip>67077M108</cusip>
        <identifiers>
          <isin value="CA67077M1086"/>
          <ticker value="NTR"/>
        </identifiers>
        <balance>3025.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>177597.750000000000</valUSD>
        <pctVal>0.8025476533</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Paychex Inc</name>
        <lei>529900K900DW6SUBM174</lei>
        <title>Paychex Inc</title>
        <cusip>704326107</cusip>
        <identifiers>
          <isin value="US7043261079"/>
          <ticker value="PAYX"/>
        </identifiers>
        <balance>-1929.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-244520.040000000000</valUSD>
        <pctVal>-1.1049632345</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PepsiCo Inc</name>
        <lei>FJSUNZKFNQ5YPJ5OT455</lei>
        <title>PepsiCo Inc</title>
        <cusip>713448108</cusip>
        <identifiers>
          <isin value="US7134481081"/>
          <ticker value="PEP"/>
        </identifiers>
        <balance>-1963.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-275683.720000000000</valUSD>
        <pctVal>-1.2457889953</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Public Storage</name>
        <lei>254900GLQZAD4N7N5Q19</lei>
        <title>Public Storage</title>
        <cusip>74460D109</cusip>
        <identifiers>
          <isin value="US74460D1090"/>
          <ticker value="PSA"/>
        </identifiers>
        <balance>47.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13575.950000000000</valUSD>
        <pctVal>0.0613484507</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>Rio Tinto PLC</name>
        <lei>213800YOEO5OQ72G2R82</lei>
        <title>Rio Tinto PLC</title>
        <cusip>767204100</cusip>
        <identifiers>
          <isin value="US7672041008"/>
          <ticker value="RIO"/>
        </identifiers>
        <balance>3683.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>243114.830000000000</valUSD>
        <pctVal>1.0986132217</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Roper Technologies Inc</name>
        <lei>54930003T4SXCIWVXY35</lei>
        <title>Roper Technologies Inc</title>
        <cusip>776696106</cusip>
        <identifiers>
          <isin value="US7766961061"/>
          <ticker value="ROP"/>
        </identifiers>
        <balance>-502.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-250342.380000000000</valUSD>
        <pctVal>-1.1312738455</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sanofi SA</name>
        <lei>549300E9PC51EN656011</lei>
        <title>Sanofi SA</title>
        <cusip>80105N105</cusip>
        <identifiers>
          <isin value="US80105N1054"/>
          <ticker value="SNY"/>
        </identifiers>
        <balance>1062.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>50126.400000000000</valUSD>
        <pctVal>0.2265165222</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sempra</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>Sempra</title>
        <cusip>816851109</cusip>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Snowflake Inc</name>
        <lei>254900CJNSY1K7T53Z16</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>Sony Group Corp</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Sony Financial Group Inc</name>
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        <title>Sony Financial Group Inc</title>
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          <ticker value="2572111D"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Suncor Energy Inc</name>
        <lei>549300W70ZOQDVLCHY06</lei>
        <title>Suncor Energy Inc</title>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tesla Inc</name>
        <lei>54930043XZGB27CTOV49</lei>
        <title>Tesla Inc</title>
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          <isin value="US88160R1014"/>
          <ticker value="TSLA"/>
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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>United Rentals Inc</name>
        <lei>5323X5O7RN0NKFCDRY08</lei>
        <title>United Rentals Inc</title>
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          <isin value="US9113631090"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Vale SA</name>
        <lei>254900SMTWBX7RU2SR20</lei>
        <title>Vale SA</title>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>BR</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>AUDUSD Crncy Fut  Dec25</title>
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          <ticker value="ADZ5"/>
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        <assetCat>DFE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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            <payOffProf>Long</payOffProf>
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                <issuerName>AUD/USD Cross Currency Rate</issuerName>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOYBEAN OIL FUTR  Dec25</title>
        <cusip>N/A</cusip>
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          <ticker value="BOZ5"/>
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        <balance>9.000000000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <assetCat>DCO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Chicago Board of Trade</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>Crude Soybean Oil</issuerName>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BP CURRENCY FUT   Dec25</title>
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          <ticker value="BPZ5"/>
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              <counterpartyName>Chicago Mercantile Exchange</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>British Pound/US Dollar Cross Currency Rate</issuerName>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BRL/USD FWD 20251217</title>
        <cusip>N/A</cusip>
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          <other otherDesc="USER DEFINED" value="BRLUSD121725"/>
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        <balance>1.000000000000</balance>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>STONEX FINANCIAL INC.</counterpartyName>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Short Euro-BTP Fu Dec25</title>
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          <isin value="DE000F1ZLHM5"/>
          <ticker value="BTSZ5"/>
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            <payOffProf>Long</payOffProf>
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                <issuerName>Short-term Euro-BTP</issuerName>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>C$ CURRENCY FUT   Dec25</title>
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        <name>N/A</name>
        <lei>N/A</lei>
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        <name>N/A</name>
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        <name>N/A</name>
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      <invstOrSec>
        <name>N/A</name>
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          <ticker value="CORZ6"/>
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        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
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        <fairValLevel>1</fairValLevel>
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              <counterpartyName>ICE Futures Europe Financials</counterpartyName>
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                <issuerName>3 Month Euribor</issuerName>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <ticker value="FCX5"/>
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              <counterpartyName>Chicago Mercantile Exchange</counterpartyName>
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                <issuerName>Feeder Cattle</issuerName>
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      <invstOrSec>
        <name>N/A</name>
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          <isin value="GB00MW9TYF35"/>
          <ticker value="G Z5"/>
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        <fairValLevel>1</fairValLevel>
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              <counterpartyName>ICE Futures Europe Financials</counterpartyName>
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            <payOffProf>Short</payOffProf>
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                <issuerName>Long Gilt</issuerName>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
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        <title>COPPER FUTURE     Dec25</title>
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          <ticker value="HGZ5"/>
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              <counterpartyName>Commodity Exchange, Inc.</counterpartyName>
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                <issuerName>Copper</issuerName>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>NY Harb ULSD Fut  Nov25</title>
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          <ticker value="HOX5"/>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>90-DAY BANK BILL  Jun26</title>
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          <ticker value="IRM6"/>
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              <counterpartyName>ASX Trade24</counterpartyName>
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                <issuerName>Australian 90 Day Bank Bills</issuerName>
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      <invstOrSec>
        <name>N/A</name>
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        <title>COFFEE 'C' FUTURE Dec25</title>
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          <ticker value="KCZ5"/>
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              <counterpartyName>ICE Futures US Softs</counterpartyName>
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                <issuerName>Arabica Coffee</issuerName>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>MXN/USD FWD 20251217</title>
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          <other otherDesc="USER DEFINED" value="MXNUSD121725"/>
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              <counterpartyName>STONEX FINANCIAL INC.</counterpartyName>
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        <name>N/A</name>
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          <other otherDesc="USER DEFINED" value="NOKUSD121725"/>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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              <counterpartyName>STONEX FINANCIAL INC.</counterpartyName>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>PALLADIUM FUTURE  Dec25</title>
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          <ticker value="PAZ5"/>
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              <counterpartyName>New York Mercantile Exchange</counterpartyName>
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            <payOffProf>Long</payOffProf>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>STONEX FINANCIAL INC.</counterpartyName>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <ticker value="PLF6"/>
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        <assetCat>DCO</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>New York Mercantile Exchange</counterpartyName>
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            <payOffProf>Long</payOffProf>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="USER DEFINED" value="PLNUSD121725"/>
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              <counterpartyName>STONEX FINANCIAL INC.</counterpartyName>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Low Su Gasoil G   Nov25</title>
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          <isin value="GB00H6D17590"/>
          <ticker value="QSX5"/>
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        <assetCat>DCO</assetCat>
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        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>ICE Futures Europe Commodities</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>Low Sulphur Gas Oil</issuerName>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SOYBEAN FUTURE    Nov25</title>
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          <ticker value="S X5"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Chicago Board of Trade</counterpartyName>
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            <payOffProf>Short</payOffProf>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SUGAR #11 (WORLD) Mar26</title>
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          <ticker value="SBH6"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>ICE Futures US Softs</counterpartyName>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Sugar #11</issuerName>
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        <securityLending>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SEK/USD FWD 20251217</title>
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        <identifiers>
          <other otherDesc="USER DEFINED" value="SEKUSD121725"/>
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        <balance>1.000000000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>STONEX FINANCIAL INC.</counterpartyName>
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        <securityLending>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>3 MONTH SOFR FUT  Dec27</title>
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        <identifiers>
          <ticker value="SFRZ7"/>
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        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
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              <counterpartyName>Chicago Mercantile Exchange</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>3-Month Secured Overnight Financing Rate</issuerName>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <ticker value="SFZ5"/>
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        <assetCat>DFE</assetCat>
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              <counterpartyName>Chicago Mercantile Exchange</counterpartyName>
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            <payOffProf>Long</payOffProf>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SGD/USD FWD 20251217</title>
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          <other otherDesc="USER DEFINED" value="SGDUSD121725"/>
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              <counterpartyName>STONEX FINANCIAL INC.</counterpartyName>
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      <invstOrSec>
        <name>N/A</name>
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        <name>N/A</name>
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          <ticker value="SMZ5"/>
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              <counterpartyName>ICE Futures Europe Financials</counterpartyName>
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        <name>N/A</name>
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          <ticker value="TYZ5"/>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>UK Emiss Allow Fu Dec25</title>
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        <name>N/A</name>
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        <name>N/A</name>
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          <ticker value="W Z5"/>
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      <invstOrSec>
        <name>N/A</name>
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          <ticker value="XMZ5"/>
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                <issuerName>Austrailian Government 10 Year Bonds</issuerName>
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        <name>Vulcan Materials Co</name>
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        <name>Yum! Brands Inc</name>
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        <name>Zimmer Biomet Holdings Inc</name>
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        <name>Abbott Laboratories</name>
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        <name>N/A</name>
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        <title>CORN FUTURE       Dec25</title>
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        <name>N/A</name>
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        <name>N/A</name>
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        <name>N/A</name>
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            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Euro/US Dollar Cross Currency Rate</issuerName>
                <issueTitle>Euro/US Dollar Cross Currency Rate</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <other otherDesc="USER DEFINED" value="EC_Curncy"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2025-12-15</expDate>
            <notionalAmt>1032444.840000000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-644.840000000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Euro-BTP Future   Dec25</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE000F1ZLHN3"/>
          <ticker value="IKZ5"/>
        </identifiers>
        <balance>7.000000000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt=".851060000000"/>
        <valUSD>4006.700000000000</valUSD>
        <pctVal>0.0181059033</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Exchange" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Eurex</counterpartyName>
              <counterpartyLei>529900UT4DG0LG5R9O07</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Euro-BTP Italian Government Bonds</issuerName>
                <issueTitle>Euro-BTP Italian Government Bonds</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <other otherDesc="USER DEFINED" value="IK_Comdty"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2025-12-08</expDate>
            <notionalAmt>835470.060000000000</notionalAmt>
            <curCd>EUR</curCd>
            <unrealizedAppr>4006.700000000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>CRUDE PALM OIL FU Dec25</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="KOZ5"/>
        </identifiers>
        <balance>15.000000000000</balance>
        <units>NC</units>
        <currencyConditional curCd="MYR" exchangeRt="4.208500000000"/>
        <valUSD>-6842.940000000000</valUSD>
        <pctVal>-0.0309226071</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DCO</assetCat>
        <issuerConditional desc="Exchange" issuerCat="OTHER"/>
        <invCountry>MY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Bursa Malaysia</counterpartyName>
              <counterpartyLei>549300RY3Q0YLHMEXM25</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Crude Palm Oil</issuerName>
                <issueTitle>Crude Palm Oil</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <other otherDesc="USER DEFINED" value="KO_Comdty"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2025-12-15</expDate>
            <notionalAmt>1660798.520000000000</notionalAmt>
            <curCd>MYR</curCd>
            <unrealizedAppr>-6842.940000000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>ECX EMISSION      Dec25</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NLICE1584875"/>
          <ticker value="MOZ25"/>
        </identifiers>
        <balance>2.000000000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt=".851060000000"/>
        <valUSD>-2858.860000000000</valUSD>
        <pctVal>-0.0129189215</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DO</assetCat>
        <issuerConditional desc="Exchange" issuerCat="OTHER"/>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>ICE Endex</counterpartyName>
              <counterpartyLei>549300CZW488L20NT866</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>ICE European Climate Exchange Emissions</issuerName>
                <issueTitle>ICE European Climate Exchange Emissions</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <other otherDesc="USER DEFINED" value="MO_Comdty"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2025-12-15</expDate>
            <notionalAmt>153873.060000000000</notionalAmt>
            <curCd>EUR</curCd>
            <unrealizedAppr>-2858.860000000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>EURO-BOBL FUTURE  Dec25</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE000F1ZLHQ6"/>
          <ticker value="OEZ5"/>
        </identifiers>
        <balance>-12.000000000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt=".851060000000"/>
        <valUSD>2356.600000000000</valUSD>
        <pctVal>0.0106492554</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Exchange" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Eurex</counterpartyName>
              <counterpartyLei>529900UT4DG0LG5R9O07</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Euro-BOBL</issuerName>
                <issueTitle>Euro-BOBL</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <other otherDesc="USER DEFINED" value="OE_Comdty"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2025-12-08</expDate>
            <notionalAmt>-1415725.610000000000</notionalAmt>
            <curCd>EUR</curCd>
            <unrealizedAppr>2356.600000000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>EURO-BUND FUTURE  Dec25</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE000F1ZLHP8"/>
          <ticker value="RXZ5"/>
        </identifiers>
        <balance>-13.000000000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt=".851060000000"/>
        <valUSD>-2029.530000000000</valUSD>
        <pctVal>-0.0091712566</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Exchange" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Eurex</counterpartyName>
              <counterpartyLei>529900UT4DG0LG5R9O07</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Euro-Bund</issuerName>
                <issueTitle>Euro-Bund</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <other otherDesc="USER DEFINED" value="RX_Comdty"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2025-12-08</expDate>
            <notionalAmt>-1669682.750000000000</notionalAmt>
            <curCd>EUR</curCd>
            <unrealizedAppr>-2029.530000000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>EURO-BUXL 30Y BND Dec25</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE000F1ZLHS2"/>
          <ticker value="UBZ5"/>
        </identifiers>
        <balance>-5.000000000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt=".851060000000"/>
        <valUSD>-8476.880000000000</valUSD>
        <pctVal>-0.0383062294</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Exchange" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Eurex</counterpartyName>
              <counterpartyLei>529900UT4DG0LG5R9O07</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Euro BUXL 30 Year Bonds</issuerName>
                <issueTitle>Euro BUXL 30 Year Bonds</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <other otherDesc="USER DEFINED" value="UB_Comdty"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2025-12-08</expDate>
            <notionalAmt>-565185.670000000000</notionalAmt>
            <curCd>EUR</curCd>
            <unrealizedAppr>-8476.880000000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Advanced Micro Devices Inc</name>
        <lei>R2I72C950HOYXII45366</lei>
        <title>Advanced Micro Devices Inc</title>
        <cusip>007903107</cusip>
        <identifiers>
          <isin value="US0079031078"/>
          <ticker value="AMD"/>
        </identifiers>
        <balance>783.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>126681.570000000000</valUSD>
        <pctVal>0.5724621890</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>American Water Works Co Inc</name>
        <lei>549300DXHIJQMD5WFW18</lei>
        <title>American Water Works Co Inc</title>
        <cusip>030420103</cusip>
        <identifiers>
          <isin value="US0304201033"/>
          <ticker value="AWK"/>
        </identifiers>
        <balance>1246.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>173430.740000000000</valUSD>
        <pctVal>0.7837173241</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>Apple Inc</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>Apple Inc</title>
        <cusip>037833100</cusip>
        <identifiers>
          <isin value="US0378331005"/>
          <ticker value="AAPL"/>
        </identifiers>
        <balance>386.000000000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>98287.180000000000</valUSD>
        <pctVal>0.4441505912</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>Airbus SE</name>
        <lei>MINO79WLOO247M1IL051</lei>
        <title>Airbus SE</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NL0000235190"/>
          <ticker value="AIR"/>
        </identifiers>
        <balance>1101.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".851060000000"/>
        <valUSD>255372.590000000000</valUSD>
        <pctVal>1.1540048949</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Air Liquide SA</name>
        <lei>969500MMPQVHK671GT54</lei>
        <title>Air Liquide SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0000120073"/>
          <ticker value="AI"/>
        </identifiers>
        <balance>1031.000000000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt=".851060000000"/>
        <valUSD>214253.590000000000</valUSD>
        <pctVal>0.9681919724</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-11-25</ncom:dateSigned>
      <ncom:nameOfApplicant>Tidal Trust II</ncom:nameOfApplicant>
      <ncom:signature>/s/ Aaron Perkovich</ncom:signature>
      <ncom:signerName>Aaron Perkovich</ncom:signerName>
      <ncom:title>Treasurer/Principal Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
